2023 EUR to MVR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 EUR to MVR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the EUR to MVR exchange rate experienced significant fluctuation. The market reached its absolute peak on July 14, valuing the pair at 17.3263. Conversely, the yearly low was recorded on October 2, dropping to 16.0867.
This high-to-low spread represents a total annual volatility of 1.2396 MVR. From a start-to-finish perspective, comparing the January average rate of 16.5962 to the December average rate of 16.7926, the exchange rate registered a net change of 1.18% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 17.3263 was down 2.11% compared to the 2022 peak of 17.7002, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 EUR based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
EUR to MVR 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 16.6190, compared to 16.6524 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0334 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was May, with a trading range of 0.8456 MVR (High: 17.2083 / Low: 16.3628). On the other end, August was the most stable month, with a tight range of 0.3005 MVR (High: 16.9248 / Low: 16.6243).
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 0.3080 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (July 2023: 17.0035) against the same month in 2022 (average: 15.7057), the exchange rate shifted by +1.2978 (+8.26%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 16.7848 | 16.2117 | 16.5962 |
| February | 16.9156 | 16.1995 | 16.4323 |
| March | 16.7928 | 16.1924 | 16.4744 |
| April | 17.0918 | 16.5849 | 16.8766 |
| May | 17.2083 | 16.3628 | 16.6960 |
| June | 16.8667 | 16.4197 | 16.6386 |
| July | 17.3263 | 16.6952 | 17.0035 |
| August | 16.9248 | 16.6243 | 16.7711 |
| September | 16.6182 | 16.2359 | 16.4631 |
| October | 16.4328 | 16.0867 | 16.2585 |
| November | 16.9096 | 16.2817 | 16.6257 |
| December | 17.0737 | 16.5247 | 16.7926 |