2024-04-24 Taka 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 in Exchange Rates

Based on the data provided, it appears that the exchange rate for BDT remains largely stable over the observed period. The values fluctuate between 0.01246 and 0.01252, which indicates that the currency depicts a low volatility. There doesn't seem to be a prevailing trend of either increasing or decreasing, as the changes in the rates are minor and frequent back and forth between these values.

Seasonality or Recurring Patterns

It is hard to observe clear seasonal trends or recurring patterns in this dataset as we only have data for a single day. The currency's exchange rate doesn't appear to be significantly influenced by the time of day, but proper time-series analysis with periodical data (daily, monthly, yearly) might reveal more details in terms of seasonality or recurrent patterns.

Outliers Analysis

Given the narrow range of values, the data contains no significant outliers, or instances where the BDT's value deviates significantly from the trend. The highest exchange rate observed is 0.01252 while the lowest is 0.01246, which is a typical fluctuation for currency exchange rates over a short period.

Conclusion

From this analysis of the given time-series financial data, we can conclude that the BDT's exchange rates remained quite stable over the course of April 23, 2024, with very minor fluctuations. A broader scope of time would be necessary to identify any trends, seasonality or external factors affecting the value. It's crucial to incorporate more extensive data to make a more informative financial analysis.

ed Market Outlook On a surprisingly average trading day, the Bangladeshi Taka (BDT) showed remarkable stability, with minor fluctuations throughout the day, reflecting a reassuring market outlook. This unexpected steadiness, projected within the exchange rates, presents a peculiar yet intriguing scenario, given the market''s usual volatility. The exchange rate began at 0.01249 at 00:00:02, maintaining a hovering pattern around this figure for the majority of the first quarter of the day. The noteworthy point to extrapolate from this data is that the slight oscillations presented an evident departure from the assumed constant market changes. This uniquely steady pattern shown by the BDT exchange rate is a significant departure from the volatile swings traders are used to. The consistency could be indicative of forward stability in the Bangladeshi economy, a proposition appealing to prospective investors. If the BDT continues to exhibit this level of stability, it could be a sign of a robust and resilient economy that can withstand market shocks. Drawing attention to the market''s behavior during later hours, an interesting hike was observed at 06:35:02, when the exchange rate inched slightly higher to 0.01251. This subtle elevation persisted until the close of the trading day, signaling a solid close with a promising outlook for the following day. This intriguing period of exchange rate stability comes at a time when global markets are grappling with an onslaught of economic shocks, thrusting the BDT into the spotlight as a potential safe haven for investors. Volatility is often seen as a sign of instability and can be off-putting to investors. In contrast, the noticeable calm displayed by the BDT throughout the day can be read as a symbol of underlying strength and resilience. However, investors and traders should remain cautious and avoid jumping to conclusions. While the day''s data presents an encouraging portrait, it''s critical to remember that this is a snapshot of a single day''s trading. To derive any meaningful insights and make informed decisions, one must examine longer-term trends and consider broader economic indicators. Looking ahead, traders and investors will be scrutinizing the BDT''s performance over the next few days to discern whether this display of stability was a one-off anomaly or a sign of lasting resilience. If the Bangladeshi Taka can sustain this steadiness, it could potentially mark a significant turning point for the currency and serve as an incentive for increased foreign investment.Minor Fluctuations in BDT exchange rate present Stabilized Market Outlook

Current Middle Market Exchange Rate

For information purposes only.