2024-05-14 Somali Shilling News
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2024-05-13
Summary of Last Month
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
An Overall Understanding of Trends
By reviewing the provided time-series data, it appears that the exchange rates for SOS have remained relatively consistent throughout the time frame. The exchange rate fluctuated slightly between 0.0024 and 0.00239, but no significant increases or decreases in the trend are evident.
This kind of stability in a currency's exchange rate could indicate a balance between the supply and demand of this particular currency in the foreign exchange market, or it could reflect stability in the economic fundamentals of the country issuing the currency.
Seasonality and Recurring Patterns
In the light of the data, it is tough to pinpoint any definitive seasonality or recurring patterns in the exchange rate of the SOS. The exchange rate fluctuation of 0.0024 to 0.00239 and vice versa seemed to occur randomly throughout the day, without a specific pattern associated with particular times or occurrences.
Given the scale of exchange rate fluctuations, any apparent cyclicality in the exchange rate changes might be overshadowed, thereby making it difficult to ascertain a distinct pattern.
Identification of Outliers
In the case of this particular dataset, no notable outliers were identified. This implies that throughout the period for which data has been provided, the SOS exchange rate did not deviate significantly from its general pattern of stability. All values were recorded between the range of 0.0024 and 0.00239, showcasing a consistent exchange rate value.
Typically, outliers in exchange rate data could be a result of significant economic events or major changes in a country's economic policy. However, without such incidents indicated in the data, no significant deviations or outliers were found in this case.
In conclusion, it is evident from this analysis that the SOS exchange rate remained stable throughout the period of observation, with no apparent cyclicality or outliers. The stability of a currency's value could be an indication of a country's strong economic fundamentals and could attract investors seeking lower volatility.
![Steady SOS Exchange Rates Register Slight Dip in Early Morning Hours](http://currencymart.net/images/news/somali-shilling/2024-05-14/img-xBguhFWZ3MmK9KrlYWYfw9sZ.webp)