TRY Exchange Rate A Roller Coaster Ride in April 2024
2024-05-12
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 in Exchange Rates
After analyzing the given dataset over different timestamps, it is noticed that there is somewhat of a steadiness mixed with a slight range-bound oscillation in the TRY exchange rate. It is seen that the exchange rate values principally fluctuate between approximately 0.04188 and 0.04265 with no significant upward or downward trend. It implies that within this period, the value of the TRY was relatively stable.
Seasonality or Recurring Patterns
There seems to be no clear seasonality or recurring pattern in the changes of exchange rates. The values of the rates appear to fluctuate randomly within a close range without any significant repetitive trend. The data does not provide enough evidence to determine recurring patterns such as cyclic variations or seasonal variations. More data would be needed over a larger timeframe to make better observance of potential patterns.
Noteworthy Outliers
By analyzing the dataset, we don't observe any substantial outliers in the exchange rate. All exchange rate values fall within the aforementioned relatively narrow range. This is substantial considering that any major outliers could signify instances of high financial volatility or unpredictability. The fact that no major outliers are detected suggests a stable economic context during the observed period.
Conclusion
Overall, the analysis of the time series dataset suggests that the currency studied (TRY) demonstrated relative stability during the observed period. It fluctuated within a small range, and there were no major changes observed in terms of upward or downward trends. While there is no apparent pattern or seasonality within these exchange rates, no significant outliers were spotted, indicating economic stability within the period studied. However, it is crucial to bear in mind that this analysis is purely based on the internal structures of the dataset and has not factored in any external influences such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports. Therefore, additional analyses, which account for those external situations, may yield distinct outcomes.
