2024-05-16 UAE Dirham News
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2024-05-15
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Analyzing Given Time Series Data for AED Exchange Rates
Looking at the provided time-series data for exchange rates of AED at various timestamps, a few observations related to the trends, patterns and peculiarities stand out.
1. Overall Trend
According to the data, there seems to be a downward trend in the exchange rate throughout the period under consideration. Starting from a rate of approximately 0.37154 at the beginning of the range, it gradually falls to about 0.37046 towards the end, signifying the relative strengthening of the other currency with respect to AED during this time frame. Within this overall downward trajectory, there are many minor fluctuations reflecting the volatile nature of foreign exchange markets.
2. Seasonality or Recurring Patterns
It's hard to identify any specific recurring pattern or seasonality given the 24 hour frame of this dataset. Foreign exchange markets are influenced by a large number of geopolitical and economic factors, resulting in more erratic and less predictable movements. There does not appear to be any clear cyclic fluctuation in exchange rates within the provided time window that can be attributed to seasonality.
3. Outliers and Notable Fluctuations
During the time period from 07:30:03 to 08:40:04, there is a noticeable drop in the exchange rate from approximately 0.37112 to 0.37092. This large change could be due to a number of factors including market volatility or sudden shifts in supply and demand. However, without additional context or information, it is not possible to conclusively identify the cause for this change. This sizable decline does recover somewhat later in the day, but remains a notable deviation within the dataset.
4. Market Influences
While it's out of the scope for the current analysis, it's important to note that exchange rates are influenced by more factors than can be identified through just the rate data. Additional context such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports can significantly impact exchange rates. Understanding these elements is crucial for a more comprehensive and accurate analysis.
Nevertheless, the provided dataset gives us useful insights into the movement of the AED exchange rate within the noted timeframe, providing solid foundational data for future, more detailed financial analysis.
![Significant Fluctuation in AED Exchange Rate Observed](http://currencymart.net/images/news/uae-dirham/2024-05-16/img-8PUYYVZx4CjCjlo3NcXyybp5.webp)