2024-05-22 Sri Lanka Rupee News

Summary of Yesterday

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

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

Overall Trend Analysis

The dataset provided spans a single day's worth of time-series financial data. During this period, the exchange rate fluctuated between a low value of 0.00454 and a high value of 0.00455. Notably, these fluctuations occurred within a very narrow range, suggesting that the exchange rate was relatively stable during this period.

Identifying Seasonality or Recurring Patterns

The time period provided in the dataset is insufficient to fully detect any significant seasonality patterns or recurring cycles in the exchange rate progression. Data spanning multiple months or years would be more suited to effective identification of seasonal patterns.

Outlier Analysis

Throughout the data provided, it is evident that there were no significant outline changes in the exchange rates observed. This could be due to a consistent market, lack of market news or economic events influencing the exchange rate during this period.

Conclusion

The provided time-series data indicates a predominantly stable exchange rate for the day in question, with minor fluctuations falling within a very narrow range. No notable outliers were detected, and due to the short time span, no discernible seasonal or recurring patterns could be identified. The analysis performed is confined to the data provided and does not take into consideration any external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports. Additional data spanning a longer time period would be required to perform a comprehensive trend, seasonality, and outlier analysis.

/h1> The Sri Lankan Rupee maintained a surprising level of stabilization against other currencies on the 21st of May 2024. Noting nominal fluctuations throughout the trading day, the LKR currency remained mostly within the parameters of 0.00454 and 0.00456. The exchange rate began the day at 0.00455, and for the most part, maintained this rate, before closing at the same figure. This level of consistency in the currency market is unusual. There were several instances during the entire trading day where the rate dropped by just 0.00001, as we saw at 1.35 AM, 2.15 AM, 4 AM, and 8.05 PM, but it rebounded back to 0.00455 within a short time, each time. The smallest fluctuation is significant in forex trading, and the steady rate with only negligible changes implies an almost stable economic climate, leaving investors with limited trading opportunities. The fact that this happened in Sri Lanka, a developing country typically known for its fluctuating exchange rates really grabs our attention. The unusually steady exchange rate of LKR on this particular day raises a few questions regarding the stability of Sri Lanka''s economy. The consistent rates could signify strong government regulation, the absence of any significant economic news affecting the market, or a combination of both. This low volatility in the forex market is possibly a result of coordinated efforts by the Monetary Board of the Sri Lanka Central Bank to maintain exchange rate stability. However, investors must consider whether this stability is sustainable in the long run. Although it might indicate economic strength in the short-term, prolonged periods of low volatility could signal an oversaturated market or a lack of trading interest. Moving forward, stakeholders should closely monitor Sri Lanka''s economic news and Central Bank policies for any signals that may ignite increased market activity. Furthermore, traders must not underestimate the potential for sudden spikes in exchange rate volatility, since such calm periods often precede higher market volatility. To sum it up, this day''s consistent LKR exchange rate is a result of several underlying market forces and economic conditions. While it may seem like a safe and dull phase for investors, preparation for any eventual sudden movements in the exchange rate should continuously be in place. Future market conditions, including changes in other countries'' exchange rates that trade extensively with Sri Lanka, may also impact the LKR rate. Keep an eye on this space for more updates and insights into the world of financial trading.Unexpected Stability in Sri Lankan Rupee Exchange Rates

Current Middle Market Exchange Rate

For information purposes only.