2024-05-13 Sudanese Pound News

Summary of Last Week

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

Statistical Measures

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Trend

Overall Trend Analysis

In observing the period from 2024-04-12 to 2024-05-10, the overall trend of the exchange rates appears to be relatively stable, with slight fluctuations. For the majority of the period, the exchange rate oscillates between 0.00233-0.00236. However, there is a slight increase to 0.00241 on 2024-05-01, which can be considered a noteworthy event in the dataset.

Seasonality or Recurring Patterns

From the available data, there doesn't seem to be clear daily or weekly seasonality in the SDG exchange rates. However, it is noticeable that the rates seem to be slightly more volatile during the early part of the month, particularly in the first week. The data does not provide enough information for identifying any potential annual seasonality.

Outliers and Notable Instances

Two primary outliers can be observed from the given dataset. The first occurs on 2024-05-01 where the exchange rates spike to 0.00241 from the preceding rate of 0.00234. This rate is maintained for some time before slowly declining. This event is succeeded by the second significant drop in rates to 0.00228 happening on 2024-05-02, constituting the lowest point in the period. These outliers are significant as they deviate from the relatively stable trend the currency maintained for the majority of the period.

Limitations

The review of this data does not take into account external real-time events that often significantly affect exchange rates, such as geopolitical events, changes in economic policy, and the release of economic reports and news. Therefore, while providing some insight into general trends and inconsistencies, this analysis is not sufficient for comprehensive financial planning or forecasting. Moreover, the impact of market opening/closing hours and weekends/holidays were not assessed due to the request to disregard such factors in the analysis; these can heavily affect the trade volume and thereby, the volatility of exchange rates.

pril to Early May As the world continues to financially stabilize itself post the global economic downturn, the global currency markets have been closely watched for signs of resilience and economic recovery. A particular case in point has been the Sudanese Pound (SDG), which has shown muted fluctuations during a specific period from mid-April to early May 2024. Investors'' eyes are consistently darting towards the Middle East and North Africa (MENA) region, of which Sudan is a part, hoping to glean insights from the evolving financial dynamics of these markets. Even the minute shifts in the currency exchanges can hint towards broader macroeconomic trends and forecast fiscal sentiments. According to the recent time-series data, the SDG exchange rate has experienced subtle rises and falls during this period. Starting at 0.00234 at the beginning of observation on April 12th, the rate mainly ranged between 0.00234 and 0.00236 until April 17th. This was followed by a steady phase up to April 29th, with the rate hovering around 0.00235 and occasionally dipping to 0.00234. The first of May saw a sudden surge in the SDG exchange rate to 0.00241 that lasted until May 2nd, after which the rate gradually slipped to a low of 0.00228 by May 6th. This downward trajectory continued, albeit at a reduced pace through the second week of May, as the SDG rate oscillated between 0.00228 and 0.00229. However, the relative stability of the SDG, despite minor variations, indicates a measure of economic steadiness not uncharacteristic of the Sudanese market. It is crucial to note that while these shifts may appear marginal on a micro-scale, they could potentially signify more extensive trends in the macroeconomic context. One pivotal event is Sudan''s economic reform program supported by the International Monetary Fund (IMF). This reform has the potential to cause shifts in the SDG exchange rate. Additionally, investors need to keep an eye on the impact of inflation and economic policies on Sudan''s predominantly agrarian economy. Notably, the dip observed in early May could be linked to the seasonal impacts on Sudan''s agricultural outputs, primarily determined by the rainfall patterns. As Sudan progresses towards the rainy season starting in May, agricultural activities and consequently, the economic indicators, including the SDG exchange rate, often sees changes. The future trajectory of the SDG exchange rate will continue to hinge on several domestic and global factors, including Sudan''s economic policies, the country''s ability to attract foreign investment, and worldwide economic trends. Observers and financial experts would all do well to keep a keen eye on this intriguing market, set amidst a region that itself is a hotbed of evolving economic trends. While the SDG journey in the coming months is largely unpredictable, one thing''s for certain: for investors, economists, and financial observers worldwide, the Sudanese market will indeed be one to watch.SDG Exchange Rate Undergoes Subtle Fluctuations in Mid-April to Early May

Current Middle Market Exchange Rate

For information purposes only.