2023 GHS to RWF Historical Review

YEARLY HIGH

128.7994 RWF

YEARLY LOW

84.3559 RWF

YEARLY AVERAGE

99.2677 RWF

2023 GHS to RWF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the GHS to RWF exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 128.7994. Conversely, the yearly low was recorded on February 23, dropping to 84.3559.

This high-to-low spread represents a total annual volatility of 44.4435 RWF. From a start-to-finish perspective, comparing the January average rate of 94.7608 to the December average rate of 104.3112, the exchange rate registered a net change of 10.08% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 128.7994 was down 23.43% compared to the 2022 peak of 168.2048, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 GHS based on timing:

Yearly Peak High 643,997 RWF

2022 Average 610,872 RWF

Yearly Trough Low 421,779 RWF

Transaction Impact: A difference of 222,217.55 RWF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

106.6723

85.2688

JanuMarcMayJulySeptNove

GHS to RWF 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 94.5998, compared to 103.9356 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 9.3358 points.

H1 Avg (Jan–Jun) 94.5998

H2 Avg (Jul–Dec) 103.9356

Volatility Range Comparison

Volatility

The most volatile month in 2023 was January, with a trading range of 42.2964 RWF (High: 128.7994 / Low: 86.5030). On the other end, September was the most stable month, with a tight range of 1.3339 RWF (High: 105.4395 / Low: 104.1056).

January Spread (Volatile) ±42.2964

September Spread (Stable) ±1.3339

Growth Streaks & Declines

Trends

Between February and August, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 6 straight months. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 7.7083 points.

Longest Streak 6 Mo.

Sharpest MoM Drop -7.7083

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 94.7608) against the same month in 2022 (average: 165.2485), the exchange rate shifted by -70.4877 (-42.66%).

2023 Avg (January) 94.7608

2022 Avg (January) 165.2485

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	128.7994	86.5030	94.7608
February	89.1231	84.3559	87.0524
March	95.1674	85.2980	88.7541
April	102.7378	92.1455	97.1074
May	105.5857	94.0715	98.8635
June	103.3034	99.9200	101.0604
July	104.5955	100.6394	102.4014
August	105.9233	103.8400	104.8887
September	105.4395	104.1056	104.7448
October	105.1786	102.8842	103.9111
November	104.3269	102.7408	103.3564
December	105.2404	103.4916	104.3112