2023 GHS to GMD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 GHS to GMD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the GHS to GMD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 7.4216. Conversely, the yearly low was recorded on February 27, dropping to 4.7365.
This high-to-low spread represents a total annual volatility of 2.6851 GMD. From a start-to-finish perspective, comparing the January average rate of 5.4703 to the December average rate of 5.6027, the exchange rate registered a net change of 2.42% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 7.4216 was down 13.82% compared to the 2022 peak of 8.6115, 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 GMD 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 5.2133, compared to 5.4607 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.2473 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was January, with a trading range of 2.4776 GMD (High: 7.4216 / Low: 4.9440). On the other end, December was the most stable month, with a tight range of 0.0891 GMD (High: 5.6266 / Low: 5.5375).
Growth Streaks & Declines
TrendsBetween July and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 0.5746 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2023: 5.4703) against the same month in 2022 (average: 8.4952), the exchange rate shifted by -3.0248 (-35.61%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 7.4216 | 4.9440 | 5.4703 |
| February | 5.0240 | 4.7365 | 4.8957 |
| March | 5.3348 | 4.7735 | 4.9807 |
| April | 5.7876 | 5.0805 | 5.4143 |
| May | 5.6006 | 5.0684 | 5.2662 |
| June | 5.3486 | 5.1799 | 5.2526 |
| July | 5.2828 | 5.1361 | 5.2284 |
| August | 5.4158 | 5.3174 | 5.3722 |
| September | 5.6420 | 5.2629 | 5.3801 |
| October | 5.6470 | 5.4799 | 5.5793 |
| November | 5.6549 | 5.4526 | 5.6013 |
| December | 5.6266 | 5.5375 | 5.6027 |