2024-05-21 Uganda Shilling News
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2024-05-20
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
Overall Trend
Based on the dataset provided, the exchange rate of UGX remains constant at a value of 0.00036 over the entire period. This constant exchange rate suggests that it's highly stable with no observable increase or decrease over the entire period.
Seasonality or Recurring Patterns
Given the constancy of the exchange rate over time, it's evident that there are no apparent seasonal or recurring patterns in this dataset. In a typical time series analysis, we would expect to see periods of rises and falls that might indicate common patterns recurring over a specific period (month, quarter, or year). In this case, the data does not show these characteristics.
Outliers
Outliers are typically defined as data points that significantly differ from other observations. An outlier could indicate a discrepancy due to variability in the data or an experimental error. In the data provided, since all the exchange rate values are consistently at 0.00036, it's observed that there are no outliers in this dataset.
It's crucial to notice that this analysis is purely based on the provided data and does not take into consideration any effect of external factors such as market opening/closing hours, weekends/holidays, or the release of key financial news and reports. While this might significantly impact a real-world exchange rate, this analysis is, again, strictly constrained to the provided dataset.
![precedented stability in UGX Exchange Rates Balances Marketplace
In financial news, May 20, 2024, was an exceptional day for the Ugandan Shilling (UGX). Giving the term ‘stability’ a new context, the UGX exhibited steady exchange rates, defying various micro and macro-economic variables that could typically cause volatility in the value of a currency.
Starting at midnight and running into the late evening, the UGX exchange rate hovered unwaveringly at 0.00036. This unexpected uniformity in the value made it a day to marvel at in currency trading circles, with the UGX becoming the center of attention in worldwide forex metrics.
Unpredictability in exchange rates is a trademark feature of forex markets. Factors like a nation](http://currencymart.net/images/news/uganda-shilling/2024-05-21/img-i1ahHErrhUOL2OcTbYyrrjtf.webp)