2023 BGN to ETB Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 BGN to ETB Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the BGN to ETB exchange rate experienced significant fluctuation. The market reached its absolute peak on December 27, valuing the pair at 31.9282. Conversely, the yearly low was recorded on January 5, dropping to 28.8667.
This high-to-low spread represents a total annual volatility of 3.0615 ETB. From a start-to-finish perspective, comparing the January average rate of 29.5736 to the December average rate of 31.3559, the exchange rate registered a net change of 6.03% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 31.9282 was up 8.28% compared to the 2022 peak of 29.4879, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 BGN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
BGN to ETB 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 29.8767, compared to 30.6828 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.8061 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was December, with a trading range of 1.2398 ETB (High: 31.9282 / Low: 30.6884). On the other end, October was the most stable month, with a tight range of 0.6386 ETB (High: 30.3615 / Low: 29.7229).
Growth Streaks & Declines
TrendsBetween February and April, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between August and September, when the average rate fell by 0.5780 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 31.3559) against the same month in 2022 (average: 28.9671), the exchange rate shifted by +2.3888 (+8.25%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 29.8972 | 28.8667 | 29.5736 |
| February | 29.8972 | 29.0182 | 29.3790 |
| March | 30.0301 | 29.0067 | 29.4379 |
| April | 30.7242 | 29.9752 | 30.3977 |
| May | 30.7899 | 29.7077 | 30.2110 |
| June | 30.7684 | 29.7492 | 30.2610 |
| July | 31.5947 | 30.4411 | 30.9999 |
| August | 31.0494 | 30.3785 | 30.7217 |
| September | 30.5434 | 29.7145 | 30.1437 |
| October | 30.3615 | 29.7229 | 30.0401 |
| November | 31.3288 | 30.1151 | 30.8356 |
| December | 31.9282 | 30.6884 | 31.3559 |