2024-05-06 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

1. Understanding the overall trend of the exchange rates

The exchange rate of BDT had some fluctuations throughout the given time period, but it generally oscillates around a central value of 0.012 with minor variations. In the beginning, the rate starts at around 0.01234 and experiences slight up and down trends. Around April 10, 2024, there is a noticeable increase where the exchange rate reaches up to around 0.01246. This rise is subsequently balanced out by a slight fall, returning to a similar rate as before. The biggest leap happens around April 15, 2024, where the rate jumps up to 0.01261, which appears to be the highest throughout the observed period. From then onwards, the BDT's rate consistently fluctuates between minor highs and lows until the end of the observed period.

2. Identifying any seasonality or recurring patterns in the changes of exchange rates

Looking at the dataset, it appears that there's no discernible seasonality or a clear pattern that repeats at regular intervals. However, one recurring tendency that is worth noting is that there seems to be a cycle of a rise in exchange rate followed by a decline. The rate tends to generally stay around the central value of 0.012, briefly increasing before falling back to its usual value. The frequency of this pattern seems to occur nearly daily, which might suggest that it's related to the 24-hour trading cycle but it's best to gather data over a longer period to determine if this is a consistent pattern.

3. Noting any outliers, or instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality

The data doesn't seem to contain any significant outliers where the exchange rate dropped or increased abruptly beyond the expected range based on the observed trend. However, one point of interest is the notable increase on April 15, 2024, where the exchange rate goes as high as 0.01261. This is the highest point in the entire observed period. Despite this, it doesn't seem to significantly disrupt the overall trend as it is quickly followed by a decline.

Overall, it's clear that while the BDT exchange rate has some fluctuations, it generally hovers around a central value with no apparent seasonality or significant outliers within the given period.

ge Rates In one of the more dramatic weeks in recent memory, the Bangladeshi Taka (BDT) has been wracked by bouts of volatility, leading to slight but discernible changes in exchange rates. The time series data collected over the last few weeks provides a wealth of insight into the state of the currency in question and by extension, the guideposts for the broader economic conditions. To unpack the full extent of these trends, one must glance over the figures spanning from April 5 to May 3, 2024. From those figures, a pattern emerges, one that tells us a story of cautious optimism. While the frequent fluctuations might signal a state of volatility to the untrained eye, these shifts may also be indicative of a market that is receptive to changes and adaptable to fluctuating conditions. The parity between the exchange rates at the beginning and end of the month, remaining fairly constant around 0.012, suggests stability. Simultaneously, the slight dips and surges in between indicate an active market with currency responding to market stimuli. It''s worth noting that the highest point is touched on April 16, with an exchange rate value of 0.01261. The lowest point is observed at the beginning and end of this period, displaying an exchange rate of approximately 0.01234. The fluctuations, though minimal, hold more significance when comprehended within the backdrop of a global market that is continuously evolving. Pinning down specific causes for these changes can be challenging due to the multitude of factors influencing the market simultaneously. National economic policies, international economic developments, and speculations among traders, all play a role in shaping this complex picture. While the microscopic view of exchange rate fluctuations might seem to reflect uncertainty, a broader perspective provides glimmers of hope. The resilience displayed by the BDT is commendable. Amid volatile conditions, the rate settles back to its original position suggesting a strong undercurrent of robustness, which bodes well for the economy. The current trajectory of the BDT underlines the importance of constant vigilance. The future implications of the slight variations witnessed over the past month for businesses and investors alike are potentially significant. For stakeholders interested in Bangladesh''s economic narrative, these movements – incremental though they may seem – can provide fodder for future strategies. In conclusion, while the market is constantly ebbing and flowing, the finer details in these waves often hold the key to future trends and opportunities. As May unfolds, investors, policy-makers, and observers will surely keep a close eye on the BDT''s performance, with the memories of April serving as a gentle reminder that in the financial world, the devil is often in the detail. As for what the future holds, only time will tell.Cautious Optimism Amid Slight Fluctuations in BDT Exchange Rates

Current Middle Market Exchange Rate

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