2023 GHS to ZAR Historical Review

YEARLY HIGH

2.0353 ZAR

YEARLY LOW

1.3694 ZAR

YEARLY AVERAGE

1.5820 ZAR

2023 GHS to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the GHS to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 2.0353. Conversely, the yearly low was recorded on January 13, dropping to 1.3694.

This high-to-low spread represents a total annual volatility of 0.6659 ZAR. From a start-to-finish perspective, comparing the January average rate of 1.5056 to the December average rate of 1.5470, the exchange rate registered a net change of 2.75% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 2.0353 was down 21.67% compared to the 2022 peak of 2.5983, 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 10,177 ZAR

2022 Average 9,562 ZAR

Yearly Trough Low 6,847 ZAR

Transaction Impact: A difference of 3,329.58 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

1.7089

1.4110

JanuMarcMayJulySeptNove

GHS to ZAR 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 1.5587, compared to 1.6052 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0465 points.

H1 Avg (Jan–Jun) 1.5587

H2 Avg (Jul–Dec) 1.6052

Volatility Range Comparison

Volatility

The most volatile month in 2023 was January, with a trading range of 0.6659 ZAR (High: 2.0353 / Low: 1.3694). On the other end, September was the most stable month, with a tight range of 0.0576 ZAR (High: 1.6834 / Low: 1.6258).

January Spread (Volatile) ±0.6659

September Spread (Stable) ±0.0576

Growth Streaks & Declines

Trends

Between February and May, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 0.0697 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0697

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 1.5056) against the same month in 2022 (average: 2.4941), the exchange rate shifted by -0.9885 (-39.64%).

2023 Avg (January) 1.5056

2022 Avg (January) 2.4941

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.0353	1.3694	1.5056
February	1.4701	1.3792	1.4358
March	1.5301	1.4171	1.4821
April	1.7031	1.5082	1.5899
May	1.8174	1.5452	1.6841
June	1.7517	1.6041	1.6548
July	1.6897	1.5166	1.5970
August	1.7107	1.6128	1.6656
September	1.6834	1.6258	1.6510
October	1.6717	1.5675	1.6185
November	1.5819	1.5219	1.5521
December	1.5853	1.5156	1.5470