2024-05-10 Sudanese Pound News

Summary of Yesterday

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

Statistical Measures

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Trend

Overall Trend in Exchange Rates

Based on the dataset provided, the overall trend in exchange rates appears to be generally stable. The rate hovers around 0.00228 and 0.00229, showing very little fluctuation. This indicates that during the time period shown, the exchange rate of the SDG remained consistent.

Seasonality or Recurring Patterns

It is challenging to identify any significant seasonality or recurring patterns in the changes of exchange rates based on the data provided. Since the values mostly remain constant at 0.00228 and 0.00229 for the entirety of the period, there doesn't appear to be a clear cyclical pattern that repeats at regular intervals.

Outliers

At a glance, we do not see visible outliers in this dataset. The majority of the exchange rate measurements hover stably between 0.00228 and 0.00229. There are a couple of instances where the exchange rate has dipped slightly to 0.00227, but such occurrences are infrequent and the rate bounces back to its usual range almost immediately.

Note: A deeper analysis might involve using statistical methods and visualization tools to identify and quantify outliers more precisely.

Influence of External Factors

Given the specific instructions for this analysis, we did not take into consideration external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports. Despite this, it's worth noting that these elements can often impact exchange rates significantly, causing the kind of variation and movement not witnessed in this dataset.

It would be beneficial to conduct a more in-depth analysis with such factors in mind for a more holistic understanding of the reasons behind exchange rate fluctuations.

ity In what could be seen as a testament to the robustness of the financial market, a minor fluctuation was observed in the exchange rates of the Sudanese pound (SDG) today. This time series analysis tracks the alterations in the exchange rates and provides an insight into their significance in the broader economic context. As per the data collected on May 9, 2024, the Sudanese pound experienced a trifling oscillation between 0.00228 and 0.00229, with the majority of the time period reflecting a steady rate of 0.00228. This stability is no small feat, especially considering the economic turmoil that markets worldwide have been reeling from in recent years. The SDG commenced the day trading at a rate of 0.00228. However, by 01:20 AM, it experienced a slight increase, rising to 0.00229 and maintaining this price for nearly an hour. The exchange rate then fluctuated back and forth between 0.00228 and 0.00229 till around 04:20 AM, before holding steady at 0.00228 for a substantial period. Given that these fluctuations are minor, they convey a significant message about the stability of the SDG under prevailing market conditions. A steady exchange rate is indicative of a stable economy, suggesting minimal inflation and a balanced import and export volume. The minimal variation also indicates that the market is less speculative and more grounded in concrete economic indicators. This fosters a sense of confidence among players in the market, illustrating that the national monetary policy is well-regulated. Interestingly, there was a blink-and-miss moment at 17:10 PM when the SDG dipped to 0.00227. Though it recovered quickly, this minor dip is interesting as it could be indicative of a brief period of investor uncertainty or an unforeseen drop in market demand. It''s crucial to note that even a minor rate fluctuation can have substantial implications. They can affect the prices of imported goods, influence the tourism industry, and even impact foreign trade and investment. Nimble market players can leverage such fluctuations to their advantage. Looking forward, traders should keep a close eye on potential factors that might influence the SDG''s stability. While this analysis paints a picture of economic stability, it also underscores the importance of continual market watch and trend analysis. It is such diligent observation and quick decision-making that often make the difference between success and failure in this highly competitive economic arena. In conclusion, while the SDG seems to be enjoying relative stability for the moment, one must remain observant of the unpredictable nature of financial markets and navigate the investment landscape accordingly. Minor Bump in SDG Exchange Rates Signifies Market Stability

Current Middle Market Exchange Rate

For information purposes only.