2024-05-15 Somali Shilling News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-14
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overview
From the provided dataset, there are 305 data points spanning over a period from 2024-05-14 00:00:02 to 2024-05-14 23:55:02. The analysis will not take into account the external factors such as market opening/closing hours, weekends/holidays, or any significant financial news and reports. It's purely based on the given historical data.
Overall Trend of Exchange Rates
The exchange rates appear to be quite stable over the period. There was a small decrease from 0.0024 at 2024-05-14 01:20:02 to 0.00239 at 2024-05-14 01:25:02. The rates then remained constant at 0.00239 for rest of the period shown in the dataset. Therefore, it seems that the exchange rates do not tend to increase or decrease significantly in this dataset.
Seasonality or Recurring Patterns
Based on the provided data, it is hard to identify any seasonality or recurring patterns in the exchange rates. This is primarily due to two reasons: Firstly, the exchange rate has remained largely constant throughout the period, with a slight decrease observed at one point. Secondly, the time period of one day is too short to observe any meaningful recurring patterns or seasonality. Seasonality patterns usually become evident over longer periods (months or years).
Outliers
In the context of this dataset, outliers would be defined as any instances where the exchange rate differs significantly from the overall trend. Since the rates are mostly constant, an outlier would be a rate that is significantly higher or lower than 0.0024 or 0.00239. However, no such outliers are present in the given data. Every recorded exchange rate falls either at 0.0024 or 0.00239, which aligns with the overall trend.
Conclusion
In conclusion, the exchange rates represented in the dataset remain relatively stable over the given time period with a minor decrease observed once. There doesn't appear to be any identified seasonality or recurring patterns in the changes of exchange rates, nor are there any outliers. However, since this analysis is solely based on historical data from a short period and doesn't incorporate external factors, the findings might not fully represent the complex nature of exchange rate fluctuations.
![Steady SOS Exchange Rates Display Remarkable Stability Throughout the Day](http://currencymart.net/images/news/somali-shilling/2024-05-15/img-8y5iWxSBVwcJ4kTBvEO6wH3n.webp)