2023 ETB to RWF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 ETB to RWF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the ETB to RWF exchange rate experienced significant fluctuation. The market reached its absolute peak on December 10, valuing the pair at 22.5615. Conversely, the yearly low was recorded on January 8, dropping to 19.9318.
This high-to-low spread represents a total annual volatility of 2.6297 RWF. From a start-to-finish perspective, comparing the January average rate of 20.0372 to the December average rate of 22.3294, the exchange rate registered a net change of 11.44% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 22.5615 was up 7.61% compared to the 2022 peak of 20.9661, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 ETB based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
ETB to RWF 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 20.4504, compared to 21.8369 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 1.3865 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was June, with a trading range of 0.9116 RWF (High: 21.5639 / Low: 20.6523). On the other end, February was the most stable month, with a tight range of 0.2083 RWF (High: 20.3551 / Low: 20.1468).
Growth Streaks & Declines
TrendsBetween January and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 11 straight months. No significant month-over-month rate declines were detected.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 22.3294) against the same month in 2022 (average: 19.9990), the exchange rate shifted by +2.3304 (+11.65%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 20.2431 | 19.9318 | 20.0372 |
| February | 20.3551 | 20.1468 | 20.2286 |
| March | 20.6579 | 20.2538 | 20.3517 |
| April | 20.8780 | 20.2622 | 20.4823 |
| May | 20.8564 | 20.4816 | 20.6341 |
| June | 21.5639 | 20.6523 | 20.9684 |
| July | 21.7605 | 21.0826 | 21.3065 |
| August | 21.6259 | 21.2971 | 21.4750 |
| September | 22.1513 | 21.5357 | 21.7925 |
| October | 22.1623 | 21.7827 | 21.9753 |
| November | 22.3391 | 21.9903 | 22.1425 |
| December | 22.5615 | 22.1231 | 22.3294 |