2024-05-14 UAE Dirham News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-13
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
1. Understanding the overall trend of the exchange rates
On analyzing the dataset, the overall trend observed in the exchange rates (AED) is predominantly stable. The exchange rates seem to have minor fluctuations rather than having a clear increasing or decreasing pattern. These fluctuations usually remain within a very narrow range, thus maintaining overall stability in the rates.
2. Identifying seasonality or recurring patterns
Time-series data for a single day does not provide enough data to find meaningful patterns of seasonality or recurring sequences. However, we observe slight volatility at certain times - the trend appears to have minor ups and downs frequently. These patterns may correlate to the opening and closing of global markets, but this correlation cannot be confirmed with the current dataset. To reliably identify seasonality or recurring patterns, we could analyze more time-series data that spans over a much longer range of days, weeks, or even months.
3. Noting any outliers
No significant outliers are found in the given data. The exchange rate fluctuations remain within a very tight range and there is no instance where the rate differs significantly from what would otherwise be expected based on the other values.
Considerations for a comprehensive analysis
Although it was requested to exclude considerations of market timings, weekends/holidays, and key financial news or reports in this analysis, they indeed have a substantial influence on exchange rates. For a more comprehensive and accurate analysis, these factors should ideally be considered as they can introduce additional volatility or stability in the market, influencing the exchange rate.
Note: These are preliminary observations and as an expert in financial analysis, I would recommend a more comprehensive study involving a longer time period which can catch weekly and monthly trends or patterns.![Unstable AED Exchange Rates Reflects Volatile Market Conditions](http://currencymart.net/images/news/uae-dirham/2024-05-14/img-YFwhLbQAYGeyyerNyVYt093w.webp)