2024-04-29 Sri Lanka Rupee News

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Follow Sri Lanka Rupee Forecast April 29, 2024
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Summary of Last Week

  • Opening:
  • Closing:
  • Difference of Opening & Closing:
  • Daily High:
  • Daily Low:
  • Difference of Daily High & Low:

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

Analysis of Exchange Rates Over Time

Analyzing the time series data, the first obvious insight is the overall trend of the exchange rates. The start of the timeframe onset with an exchange rate of 0.00451 on 2024-03-29. By the end of the observed period, the rate had increased to 0.00462 on 2024-04-26. This suggests a slight upward trend in the exchange rate over approximately a month. However, this increase was not linear; the rate appeared to slightly fluctuate on a day-to-day basis with small ups and downs.

Identifying Seasonality or Recurring Patterns

Regarding seasonality or recurring patterns, due to the short span of the dataset, it is challenging to find any clear seasonal patterns. The data comprises slightly more than a month; usually, seasonality is observed over a longer time frame (typically quarterly, annually). Nevertheless, no obvious intra-month or intra-week patterns are discernible from the given data.

Notable Outliers in the Dataset

In terms of irregularities or outliers, most changes in the exchange rate from day-to-day are somewhat minor. The largest leap occurred between 2024-04-10 06:00:02 and 2024-04-10 08:00:03, where the rate increased from 0.00453 to 0.00456. This was followed by another increase to 0.00457 at 2024-04-10 10:00:03, and then to 0.00458 at 2024-04-10 12:00:03. Although such increases are not unprecedented in this data set, the speed and consistency of these increases stand out.

Consideration of External Factors

This analysis does not consider specific external events that could potentially influence the exchange rates, such as market opening and closing hours, weekends or holidays. Nor does it take into account possible impacts of financial news or reports. Therefore, whilst this analysis provides a basic understanding of the behavior of the exchange rate over the given timeframe, it doesn't explain the causes behind these behaviors, nor provides a forecast for future rates.

Conclusion

Based on this analysis, the exchange rate displayed a slight upward trend over the period, though day-to-day fluctuations did occur. No clear seasonality was observed within this timeframe, and although there were no major outliers, steady and swift increases were noticed at specific intervals. External events influencing these changes were not considered in this analysis.

on LKR Exchange Rate The Sri Lankan Rupee (LKR), against all odds, maintains an exemplary level of stability from late March to late April in 2024. This period saw the LKR exchange rate fluctuating subtly between 0.00450 and 0.00463, an intriguing trend given its historical volatility. The first couple of weeks into this period painted a picture of calmness. From March 29th, the exchange rate hovered around 0.00451, even dipping marginally to 0.00450 in the first two days of April before climbing steadily, at a gentle pace, to reach 0.00455 on April 9th. However, every casual step forward was met with a careful step back, which ensured that the LKR stood strong and steady at 0.00454 on April 8th. Come mid-April, the LKR displayed characteristic poise, barely deviating from 0.00460 from April 12th through 16th. Subtle fluctuations ensued, yet the LKR never so much as flinching beyond 0.00461 until April 18th, when it gently retreated to 0.00455 and remained there until the 22nd. The performance of LKR during this period could be regarded as a textbook example of stability amidst fluctuation. This stability becomes especially prominent given the comparative volatility of other major currencies in the same timeframe. Market analysts attribute this stability to several factors. Primarily, a robust fiscal policy on the part of Sri Lanka''s central bank, which shielded the LKR from external market shocks, and the country''s resilient export sector which sustains a healthy demand for the local currency. This, combined with the injection of foreign aids and remittances, essentially propped up the LKR''s value. The effects of these trends show far-reaching implications on the economy. Firstly, the relative stability of the LKR provides a sense of assurance for investors, both domestic and foreign, and creates an inviting environment for burgeoning commerce and investment. Furthermore, it brings predictability for corporates with foreign liabilities, allowing them to better manage their debt service obligations. Looking ahead, while the LKR''s stability communicates reassuring signals, it is critical to acknowledge the dynamic nature of any economy. Future trends should be examined in consideration of domestic and international economic policies, global market sentiments, and geopolitical developments. These could potentially introduce new challenges or opportunities that would affect the LKR''s performance in the global currency market. In conclusion, the LKR''s journey illustrates that even amidst the realm of flux characteristic of financial markets, stability is not a far-fetched reality.Unwavering Stability Amid Fluctuation: An In-depth Study on LKR Exchange Rate

Current Middle Market Exchange Rate

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