2023 GEL to BGN Historical Review

YEARLY HIGH

0.7186 BGN

YEARLY LOW

0.6549 BGN

YEARLY AVERAGE

0.6894 BGN

2023 GEL to BGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the GEL to BGN exchange rate experienced significant fluctuation. The market reached its absolute peak on March 8, valuing the pair at 0.7186. Conversely, the yearly low was recorded on December 27, dropping to 0.6549.

This high-to-low spread represents a total annual volatility of 0.0637 BGN. From a start-to-finish perspective, comparing the January average rate of 0.6805 to the December average rate of 0.6670, the exchange rate registered a net change of -1.99% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.7186 was down 2.26% compared to the 2022 peak of 0.7352, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 GEL based on timing:

Yearly Peak High 3,593 BGN

2022 Average 3,206 BGN

Yearly Trough Low 3,274 BGN

Transaction Impact: A difference of 318.73 BGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.7122

0.6629

JanuMarcMayJulySeptNove

GEL to BGN Seasonal Trends & Volatility Analysis

A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.

Seasonal Halves (H1 vs H2)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 0.6977, compared to 0.6811 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0166 points.

H1 Avg (Jan–Jun) 0.6977

H2 Avg (Jul–Dec) 0.6811

Volatility Range Comparison

Volatility

The most volatile month in 2023 was December, with a trading range of 0.0274 BGN (High: 0.6822 / Low: 0.6549). On the other end, August was the most stable month, with a tight range of 0.0100 BGN (High: 0.6898 / Low: 0.6798).

December Spread (Volatile) ±0.0274

August Spread (Stable) ±0.0100

Growth Streaks & Declines

Trends

Between January and March, 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 October and November, when the average rate fell by 0.0196 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0196

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (March 2023: 0.7079) against the same month in 2022 (average: 0.5509), the exchange rate shifted by +0.1570 (+28.50%).

2023 Avg (March) 0.7079

2022 Avg (March) 0.5509

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.6901	0.6727	0.6805
February	0.7037	0.6814	0.6918
March	0.7186	0.6976	0.7079
April	0.7124	0.7001	0.7069
May	0.7170	0.6943	0.7080
June	0.6997	0.6771	0.6908
July	0.6929	0.6753	0.6839
August	0.6898	0.6798	0.6854
September	0.7005	0.6821	0.6923
October	0.6987	0.6803	0.6888
November	0.6810	0.6586	0.6692
December	0.6822	0.6549	0.6670