2024-05-14 Taka News

Summary of Last Month

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

Statistical Measures

  • Mean:
  • Standard Deviation:

Trend

Data Overview

The provided dataset contains time series data about the Bangladesh Taka (BDT) exchange rate measured at consistent intervals (approximately every 5 minutes) across a whole day on May 13, 2024. There are over 200 data points provided in the dataset, each corresponding to a specific timestamp.

Overall Trend

The BDT exchange rate in this set stayed relatively stable throughout the day, fluctuating between 0.01168 and 0.0117. The difference of 0.00002 represents a very minimal fluctuation showing a relatively stable behaviour of the exchange rate within the given period. There is no clear upward or downward trend in the data.

Seasonality or Recurring Patterns

Given that our dataset only spans a single day, it is not possible to determine any seasonality or recurring patterns within the data with certainty. Seasonality usually refers to clear and regular oscillations in data which occur over the span of at least one full year. Any patterns suggested within a single day need a larger dataset to justify if these patterns are occasional or recurring.

Outliers

At first glance, there do not appear to be any clear outliers in the dataset. The range of observed values is very tight (0.01168 to 0.0117), with no sudden or drastic changes that could be classified as outliers.

However, this preliminary conclusion only considers the visual data provided. For a more accurate and detailed analysis, a quantitative examination should be performed using statistical methods to detect any potential outliers that might not be visually discernible, although the likelihood seems very low in this particular dataset.

Any possible fluctuations seen during market opening and closing hours, or due to key financial news could not be properly assessed due to lack of supporting data in the dataset.

ut the Day In an era of significant currency volatility, a noteworthy occurrence captured the attention of financial observers today. The exchange rate of the Bangladesh Taka (BDT) remained unexpectedly stable over a 24-hour cycle. At the start of the day’s trading, the BDT exchange rate kicked off at 0.01169 and went through minor fluctuations, not straying too far from its initial value. These tiny amendments merely reflected the ordinary ebb and flow of the financial markets rather than any significant influence. Economists coming across this unusual trend have focused their interest on understanding why such a situation has occurred. The data shows a mere .00002 difference between the highest and lowest rates throughout the day. This consistency indicates a remarkably resilient and stable economy. Exchange rates depend on foreign direct investment, inflation rates, interest rates, the country''s economic performance, and political stability. However, most of these factors are unpredictable and could spark abrupt alterations. This makes the BDT''s stability throughout the day an extraordinary sight in the financial market, provoking intrigue among investors worldwide. We attribute this unprecedented steadiness to consistent monetary policy, controlled inflation rates, and robust economic growth in Bangladesh. Additionally, the central bank''s interventions have a calming influence on foreign exchange markets, thereby contributing to a steady exchange rate. Nonetheless, experts caution market participants not to overlook the potential risks. While stability is generally seen as a positive attribute, extended periods of precise consistency can lead to complacency, resulting in inadequate preparation for future shocks or changes in the forex market. To put it broadly, it is improbable to anticipate how long this stability will last. Diverse global events can significantly influence exchange rates – a rise in crude oil prices, socio-political shifts, or events like natural disasters can disrupt current stability at any moment. Thus, participants in the forex market should stay vigilant for potential changes. In summation, today''s currency stability in BDT is worth being appreciated. However, it is crucial to keep an eye on impending national and international events that could induce volatility in the forex market. Maintaining a balanced portfolio could help investors navigate potential shifts in currency value, preserving their economic interests while contributing to global financial stability.BDT Exchange Rate Displays Remarkable Stability throughout the Day

Current Middle Market Exchange Rate

For information purposes only.