2024-04-22 Taka News

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

Overall Trend

The overall trend for the given date range seems to show a steady increase in the exchange rate from 0.01236 starting 22nd March, 2024 to a peak of 0.01257 on 15th April, 2024. After reaching this peak, the exchange rates slightly decrease and stabilize around 0.01250-0.01255 towards the end of our dataset on 19th April, 2024.

Recurring Patterns and Seasonality

From the given data, a daily seasonality might be inferred, but it's not very significant. There is a slight indication that the exchange rate starts and ends with higher value during the early hours and late hours of the day. Since we are analyzing a short period of 28 days only, we cannot firmly conclude on any weekly, monthly, or annual seasonality pattern.

Outliers

There don't seem to be any significant outliers over this period, indicating exceptional movement in exchange rates. However, observing the maximum value at 0.01257 and minimum value at 0.01229, it can be inferred that the exchange rate does undergo minor fluctuations during the month-long period. However, these degree of fluctuations are quite common in forex markets and do not indicate a significant outlier event.

It is important to note that for a more concrete analysis, other external factors such as the release of key financial news & reports, market opening/closing hours, weekends/holidays, etc. can impact exchange rates which have not been accounted for in this analysis as per your requirement.

Conclusion

The general trend in BDT exchange rates over the period from 22nd March, 2024 to 19th April, 2024 is of a slight increase followed by a slight decrease and stabilization. There don’t seem to be any significant outliers. While there are minor daily fluctuations, any significant seasonality patterns could not be identified based on the data provided.

e The BDT exchange rate has been a topic of interest among investors and analysts this month, as it has shown fluctuations that hint towards an intriguing mid-April surge. Marking the early hours of April 10th, the Bangladeshi Taka (BDT) took an unexpected leap, rising from 0.01234 to 0.01246 by midday. This significant boost marked the highest rate the currency had experienced in two weeks, generating attention from market observers worldwide. The increased exchange value sustained over the following day, even reaching a high of 0.0125 on April 11th. However, the increased rate didn''t last for long. On April 17th, the BDT rate saw a moderate decline to 0.01258, a fluctuating trend that continued until the end of the week. Still, despite the mid-month shakeup, the BDT wrapped up the month maintaining a stable rate around 0.0125, showing a negligible deviation from its initial value early April. The sudden rise and fall of the BDT exchange rate in mid-April reflect the currency''s volatility, which is subject to a highly fluid global market. Factors contributing to this fluctuation could include shifting macroeconomic landscapes, changes in international trade and investment, or domestic issues such as inflation or political uncertainty. While these interpretive details provide context to the situation, definitive reasons remain challenging to pinpoint. Due to these market fluctuations, investors and traders should maintain a calculated approach when dealing with the BDT. Keeping an eye on worldly happenings may offer clues as to whether the trend may reverse, continue or stabilize in the future. The global market, economy, and multiple sectors receive substantial impacts from such fluctuations, representing why these trends hold considerable significance. If the exchange rate continues to show such erratic changes, it could path the way for beneficial or detrimental circumstances for investors, particularly those who deal in or with the Bangladeshi currency. Looking forward, market participants should monitor the BDT exchange rate closely, considering the major role it plays in the global market. Understanding these factors will help investors and business professionals worldwide make informed decisions, minimizing potential risks, and maximizing possible opportunities. In conclusion, while the mid-April surge has passed, the lessons it has imparted about volatility and market response remain valuable as investors and traders look ahead with noted caution and a keen eye on the Bangladeshi Taka.BDT Exchange Rate Experiences Significant Mid-April Surge

Current Middle Market Exchange Rate

For information purposes only.