2024-05-09 Zimbabwe Dollar News
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2024-05-08
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Overview of the Data
The data represents the changes in exchange rates specific to the Zimbabwean dollar (ZWL) across different time periods in the year 2024. Each data entry comprises of a timestamp noting the time of the recorded exchange rate. These entries are scattered across different hours of the day, providing a rich, time-series data set.
Trend Analysis
The exchange rate across the timeline appears to be fairly stable as a whole. The majority of rates hover around the 0.00426 - 0.00427 marker, indicating minimal fluctuation over the given period. This suggests a relatively calm period for the ZWL, devoid of significant increases or decreases.
Seasonality and Recurring Patterns
From the data provided, it is somewhat challenging to identify clear seasonal or recurring patterns. However, it does seem that the small fluctuations in exchange rates that do occur don't follow a seasonal pattern, at least within the confines of the given data. A larger, more expansive dataset, especially one covering multiple years, would be needed to conclusively attribute patterns to seasonal factors.
Outliers
Given the narrow range in which the ZWL's exchange rate is hovering, defining an outlier becomes quite sensitive. There doesn't seem to be any deviation significantly beyond the 0.00426 - 0.00427 margin. Therefore, based on this spectrum, there are no apparent outliers in the dataset, suggesting a stable, predictable pattern of exchange rates during this time period.
Considerations
- Due to the specificity of the given data (ZWL rates in 2024), it's limited in scale and hence may not successfully capture more significant, longer-term trends or seasonal deviations.
- The stability in rates and lack of outliers could be influenced by many factors not accounted for in the data, such as the economic health of Zimbabwe, international trade relations, or monetary policies during this time.
- This analysis was carried out without considering the likely effects of external factors like market opening/closing hours or financial news and report releases, which could potentially impact exchange rates.
![precedented Stability Witnessed in ZWL Exchange Rate
In the world of finance, changes in the market are constant. Yet, on May 8, 2024, something unusual occurred. The exchange rate for ZWL (Zimbabwean dollar) found an unusual level of stability that held throughout the day. Based on time series data analyzed, the exchange rate mostly stayed at 0.00427, with a slight dip to 0.00426 before reverting to its previous level.
The day started with the ZWL trading at an exchange rate of 0.00427. As the daylight hours unfolded, market watchers remained intrigued, as the rate mysteriously remained steady. In the world where exchange rates often oscillate due to numerous factors – from policy changes to economic indicators – the consistency recorded was extraordinary.
This level of stability in an exchange rate over an extended period is rarely observed. Usually, currency exchange rates fluctuate due to the economic principle of demand and supply. These fluctuations are usually affected by a country](http://currencymart.net/images/news/zimbabwe-dollar/2024-05-09/img-XV3Gyp3hWROf7tZcb99A5lI4.webp)