2023 GHS to CVE Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 GHS to CVE Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the GHS to CVE exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 12.3747. Conversely, the yearly low was recorded on February 23, dropping to 8.0608.
This high-to-low spread represents a total annual volatility of 4.3140 CVE. From a start-to-finish perspective, comparing the January average rate of 9.0461 to the December average rate of 8.4158, the exchange rate registered a net change of -6.97% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 12.3747 was down 22.22% compared to the 2022 peak of 15.9103, 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 CVE 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 8.7417, compared to 8.7614 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0197 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was January, with a trading range of 4.2240 CVE (High: 12.3747 / Low: 8.1507). On the other end, September was the most stable month, with a tight range of 0.1496 CVE (High: 9.0433 / Low: 8.8938).
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 0.7884 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2023: 9.0461) against the same month in 2022 (average: 15.7175), the exchange rate shifted by -6.6713 (-42.45%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 12.3747 | 8.1507 | 9.0461 |
| February | 8.4679 | 8.0608 | 8.2577 |
| March | 8.7185 | 8.0896 | 8.3606 |
| April | 9.4176 | 8.3609 | 8.8146 |
| May | 9.5827 | 8.4543 | 8.9599 |
| June | 9.3049 | 8.7834 | 9.0112 |
| July | 9.0084 | 8.4676 | 8.7516 |
| August | 9.0345 | 8.8588 | 8.9657 |
| September | 9.0433 | 8.8938 | 8.9893 |
| October | 9.0737 | 8.7650 | 8.8842 |
| November | 8.7972 | 8.3802 | 8.5617 |
| December | 8.5842 | 8.2945 | 8.4158 |