2023 AZN to GEL Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 AZN to GEL Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the AZN to GEL exchange rate experienced significant fluctuation. The market reached its absolute peak on November 1, valuing the pair at 1.5971. Conversely, the yearly low was recorded on May 3, dropping to 1.4588.
This high-to-low spread represents a total annual volatility of 0.1382 GEL. From a start-to-finish perspective, comparing the January average rate of 1.5679 to the December average rate of 1.5798, the exchange rate registered a net change of 0.76% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 1.5971 was down 21.19% compared to the 2022 peak of 2.0265, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 AZN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
AZN to GEL Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 1.5257, compared to 1.5611 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0354 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was May, with a trading range of 0.0735 GEL (High: 1.5324 / Low: 1.4588). On the other end, October was the most stable month, with a tight range of 0.0176 GEL (High: 1.5912 / Low: 1.5735).
Growth Streaks & Declines
TrendsBetween July and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 0.0375 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2023: 1.5889) against the same month in 2022 (average: 1.6003), the exchange rate shifted by -0.0114 (-0.71%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 1.5882 | 1.5471 | 1.5679 |
| February | 1.5706 | 1.5463 | 1.5545 |
| March | 1.5471 | 1.4985 | 1.5170 |
| April | 1.5029 | 1.4647 | 1.4831 |
| May | 1.5324 | 1.4588 | 1.4955 |
| June | 1.5500 | 1.5304 | 1.5359 |
| July | 1.5353 | 1.5088 | 1.5212 |
| August | 1.5500 | 1.5294 | 1.5389 |
| September | 1.5824 | 1.5353 | 1.5568 |
| October | 1.5912 | 1.5735 | 1.5809 |
| November | 1.5971 | 1.5765 | 1.5889 |
| December | 1.5882 | 1.5676 | 1.5798 |