2023 GHS to BIF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 GHS to BIF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the GHS to BIF exchange rate experienced significant fluctuation. The market reached its absolute peak on May 19, valuing the pair at 261.1111. Conversely, the yearly low was recorded on February 25, dropping to 160.4028.
This high-to-low spread represents a total annual volatility of 100.7083 BIF. From a start-to-finish perspective, comparing the January average rate of 182.4571 to the December average rate of 237.1372, the exchange rate registered a net change of 29.97% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 261.1111 was down 19.95% compared to the 2022 peak of 326.2044, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 GHS based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
GHS to BIF 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 193.4116, compared to 243.7415 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 50.3299 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was May, with a trading range of 85.2506 BIF (High: 261.1111 / Low: 175.8606). On the other end, December was the most stable month, with a tight range of 1.8022 BIF (High: 238.0818 / Low: 236.2796).
Growth Streaks & Declines
TrendsBetween February and June, 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 January and February, when the average rate fell by 16.3332 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (May 2023: 211.6067) against the same month in 2022 (average: 266.1391), the exchange rate shifted by -54.5323 (-20.49%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 247.8024 | 164.8800 | 182.4571 |
| February | 170.6228 | 160.4028 | 166.1238 |
| March | 178.9700 | 161.9137 | 168.4425 |
| April | 193.6396 | 172.7990 | 181.9925 |
| May | 261.1111 | 175.8606 | 211.6067 |
| June | 253.6476 | 246.1549 | 249.8468 |
| July | 251.9332 | 243.6505 | 248.0344 |
| August | 253.7584 | 247.6157 | 251.3121 |
| September | 249.1323 | 244.5163 | 246.8518 |
| October | 245.1391 | 238.5853 | 241.3463 |
| November | 238.6267 | 236.1159 | 237.7672 |
| December | 238.0818 | 236.2796 | 237.1372 |