2024-05-14 Uganda Shilling 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

1. Understanding the Overall Trend of the Exchange Rates

Upon examination of the dataset, it becomes apparent that the UGX exchange rate, while experiencing minor fluctuations, remains squarely stable throughout the entire dataset. The UGX exchange rate is consistently valued at 0.00036 for every recorded timestamp. Therefore, it can be concluded that there is no discernible increase or decrease in the exchange rate for the period covered by the dataset.

2. Identifying Any Seasonality or Recurring Patterns

A search for seasonality or recurring patterns in the dataset returns an inconclusive result. The reason for this is the absolute steadiness of the UGX exchange rate. At all times, it remained at 0.00036 without discernible increases or decreases. This data consistency, makes it challenging if not impossible to ascertain any cyclical fluctuations or temporal patterns within the dataset.

3. Noting Any Outliers

In the provided dataset, there are no outliers. The UGX exchange rate is graphically horizontal, remaining constant at 0.00036 at every timestamp. Hence, no instances could be found where the exchange rate deviates significantly from this common value, making the entire dataset uniform without any points worth treating as outliers.

Disclaimer

This analysis is purely based on the dataset provided and does not take into account external influences such as market opening and closing times, holidays or weekends, and the release of key financial reports or news. Also, no forecast of future rates was taken into consideration for our findings.

Summary

In conclusion, the provided dataset reflects a UGX exchange rate that is perfectly stable at 0.00036, without any noticeable trends, seasonal patterns, or outliers over the time period observed. However, this analysis is performed in isolation of any external market factors or influences and no future forecasting was involved.

ket In an unexpected occurrence in the financial market, the exchange rate of the Ugandan Shilling (UGX) has maintained an unbroken consistency. With a stable rate observed throughout the market hours of May 13, 2024, experts and investors alike have been prompted to investigate this peculiar phenomenon. According to the time-series data collated, the UGX exchange rate remained solid at 0.00036 for the entire duration of the standard trading hours. This level of stability, unique in forex trading, provoke a sense of intrigue and curiosity among financial analysts worldwide. The constant exchange rate experienced during this time is not typical in the fluctuating world of forex trading. Exchange rates are often affected by several factors, including the economic performance of a country, interest rates, inflation, and geopolitical events. Yet, on this day, none of these factors seem to have influenced the UGX exchange rate. Historically, currency values are prone to fluctuations. Even minor changes can lead to significant impacts, especially for businesses involved in import-export, or investors dealing in forex. A stable forex rate, such as witnessed with UGX, insinuates a well-balanced forex market. It suggests a condition where supply and demand for the currency are almost matched, eliminating the need for the central bank to intervene in stabilizing the rates. However, the situation may also be seen as a double-edged sword. Although stability in exchange rates reduces investment risk and creates an environment of certainty for potential foreign investors, it may signify an economy''s stagnancy or slowdown. The implications of this unusual steadiness in UGX exchange rate might be far-reaching. The economic analysts pointed out that this prolonged consistency could indicate an underlying solidness to Uganda''s economic situation. Conversely, it may also be signaling a lack of market activity, which could have varied impacts. As we delve further into 2024, the Ugandan Shilling''s resilience will unquestionably be put to the test. Potential challenges could come from economic factors such as inflation or changes in international trade relations. Therefore, as investors and analysts continue to monitor this situation, it is crucial to observe if this unwavering exchange rate trend will continue or if the usual fluidity of the forex market will return to weave its influence once again. Until then, the economic world will remain focused on the UGX exchange rate as an example of extraordinary stability in an otherwise volatile market. Unprecedented Stability in UGX Exchange Rates Calms Market

Current Middle Market Exchange Rate

For information purposes only.