2024-05-16 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

Analysis of the Exchange Rate Data

From the given dataset, the data appears to span a 24-hour period on the date of 15th May 2024. The data gives the exchange rate (BDT) recorded at regular five-minute intervals throughout this period.

Understanding the Overall Trend in Exchange Rates

The initial glance at the data shows relatively limited variability in the exchange rate. Throughout the 24-hour period, the exchange rate primarily oscillates between 0.01168 and 0.01169. Towards the end of the period, starting from around 20:15, there is a slight but noticeable increase in the exchange rate to 0.01169 and above. However, the exchange rate never exceeds 0.01170 within this period. The overall trend is generally stable but with a slight increase towards the end of the day.

Identifying Seasonality in Exchange Rates

Given the short duration of the data (one day), it's hard to accurately identify any seasonality or recurring patterns in the exchange rates. Further analysis over a more extended time-frame would be required for this.

Detection of Outliers

There are no significant outliers within the provided dataset. The exchange rate remains within the relatively narrow range of 0.01167 to 0.01170, with no specific instances showing a variance beyond this range.

External Factors

As we do not have information about external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports that could influence the changes in exchange rates, this analysis is purely based on the provided data.

In conclusion, this one-day data suggests that the exchange rates on this particular day had a stable trend with very minimal fluctuations. For a more comprehensive understanding of the underlying trends, seasonalities and potential outliers, it would be beneficial to analyze data over a longer time period.

ctuations Leading economic indicators have revealed a benign alternation in Bangladesh currency (BDT) during the past day. However, economists have noted a brief period of stability symbolizing a potential new outlook for the financial market, with implications for the global economy. The time series data on record from the 15th May 2024, shows an unprecedented retention of a stable peso exchange rate, hovering stably around 0.01169 for most of the day. The general trend for the day maintained this figure, showing slight fluctuation, but generally returning to its baseline value. This kind of steady regimen is considered atypical in the financial world, where regular, often daily, fluctuations in currency values are the norm. Historically, active currency exchange rates are a reflection of the country''s economy in relation to others. When a country''s currency lacks significant fluctuation, as seen with the BDT, it symbolizes that the comparable worth in economic strength between the two specified countries is unchanging. Market analysts suggest that the lack of significant swings indicates lower volatility which might appeal to foreign investors. These investors tend to prefer stable markets as it reduces the potential for sudden exchange rate-induced losses. This could mean a potential increase in investments for Bangladesh, further strengthening its economy in the long run. Mirroring this sentiment is James Williams, a London-based financial analyst who noted, "In the current global economic climate, such constancy is irregular. It is, however, a strong indicator of a possible future surge in foreign investment, given the low volatility." However, despite this, experts have cautioned against over-optimistic expectations. They indicate that it is crucial to note that exchange rates are just one aspect of a nation''s financial health. While a stable exchange rate is generally viewed positively, it needs to be assessed alongside other economic indicators for a full picture of the nation''s financial position. Looking ahead, the business world shall keenly observe eventful changes in the scenario as a stable BDT continues to make headlines. While it remains challenging to predict future market trends with a high degree of accuracy, the current stability in the exchange rate will indeed make Bangladesh an intriguing prospect for economists and investors worldwide. High-stake watchers might wonder - Is this stability a temporary breath-hold before a plunge or a systematic behavior prototype that may redefine the approach to forecast future currency movements? Only time will tell. Brief Stability Found in Exchange Rates Amid Market Fluctuations

Current Middle Market Exchange Rate

For information purposes only.