2023 GEL to ETB Historical Review

YEARLY HIGH

21.9350 ETB

YEARLY LOW

19.8534 ETB

YEARLY AVERAGE

20.8691 ETB

2023 GEL to ETB Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the GEL to ETB exchange rate experienced significant fluctuation. The market reached its absolute peak on May 3, valuing the pair at 21.9350. Conversely, the yearly low was recorded on January 2, dropping to 19.8534.

This high-to-low spread represents a total annual volatility of 2.0816 ETB. From a start-to-finish perspective, comparing the January average rate of 20.1246 to the December average rate of 20.9109, the exchange rate registered a net change of 3.91% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 21.9350 was up 8.30% compared to the 2022 peak of 20.2546, 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 109,675 ETB

2022 Average 89,458 ETB

Yearly Trough Low 99,267 ETB

Transaction Impact: A difference of 10,408.05 ETB purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

21.6248

19.9882

JanuMarcMayJulySeptNove

GEL to ETB 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 20.8450, compared to 20.8932 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0482 points.

H1 Avg (Jan–Jun) 20.8450

H2 Avg (Jul–Dec) 20.8932

Volatility Range Comparison

Volatility

The most volatile month in 2023 was May, with a trading range of 1.0713 ETB (High: 21.9350 / Low: 20.8637). On the other end, October was the most stable month, with a tight range of 0.3270 ETB (High: 20.8546 / Low: 20.5276).

May Spread (Volatile) ±1.0713

October Spread (Stable) ±0.3270

Growth Streaks & Declines

Trends

Between January and April, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between May and June, when the average rate fell by 0.4897 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.4897

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 21.3914) against the same month in 2022 (average: 17.4034), the exchange rate shifted by +3.9880 (+22.91%).

2023 Avg (May) 21.3914

2022 Avg (May) 17.4034

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	20.4108	19.8534	20.1246
February	20.5597	20.0903	20.3244
March	21.1580	20.4373	20.8395
April	21.7361	21.1101	21.4885
May	21.9350	20.8637	21.3914
June	21.0439	20.6728	20.9017
July	21.4539	20.9195	21.2002
August	21.2492	20.8774	21.0549
September	21.1501	20.4868	20.8674
October	20.8546	20.5276	20.6919
November	20.8207	20.4039	20.6339
December	21.0602	20.6679	20.9109