2023 GEL to ZAR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 GEL to ZAR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the GEL to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on May 25, valuing the pair at 7.6678. Conversely, the yearly low was recorded on January 12, dropping to 6.2483.
This high-to-low spread represents a total annual volatility of 1.4196 ZAR. From a start-to-finish perspective, comparing the January average rate of 6.4077 to the December average rate of 6.9248, the exchange rate registered a net change of 8.07% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 7.6678 was up 13.71% compared to the 2022 peak of 6.7432, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 GEL based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
GEL to ZAR 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 7.0279, compared to 7.0431 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0152 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was July, with a trading range of 0.6094 ZAR (High: 7.3743 / Low: 6.7649). On the other end, November was the most stable month, with a tight range of 0.2737 ZAR (High: 6.9815 / Low: 6.7079).
Growth Streaks & Declines
TrendsBetween January and May, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between May and June, when the average rate fell by 0.3367 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (May 2023: 7.5120) against the same month in 2022 (average: 5.3561), the exchange rate shifted by +2.1559 (+40.25%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 6.6175 | 6.2483 | 6.4077 |
| February | 7.0025 | 6.4813 | 6.7833 |
| March | 7.2946 | 6.8914 | 7.0834 |
| April | 7.3480 | 6.9816 | 7.2056 |
| May | 7.6678 | 7.3472 | 7.5120 |
| June | 7.5337 | 6.9794 | 7.1754 |
| July | 7.3743 | 6.7649 | 7.0432 |
| August | 7.3368 | 7.0292 | 7.1799 |
| September | 7.3343 | 6.9686 | 7.1677 |
| October | 7.2947 | 6.8947 | 7.0820 |
| November | 6.9815 | 6.7079 | 6.8613 |
| December | 7.1467 | 6.7883 | 6.9248 |