2024 GMD to ETB Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 GMD to ETB Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the GMD to ETB exchange rate experienced significant fluctuation. The market reached its absolute peak on October 10, valuing the pair at 1.7884. Conversely, the yearly low was recorded on March 23, dropping to 0.8296.
This high-to-low spread represents a total annual volatility of 0.9588 ETB. From a start-to-finish perspective, comparing the January average rate of 0.8385 to the December average rate of 1.7635, the exchange rate registered a net change of 110.32% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 1.7884 was up 93.52% compared to the 2023 peak of 0.9241, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 GMD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
GMD to ETB 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 0.8407, compared to 1.5362 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.6955 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was August, with a trading range of 0.4488 ETB (High: 1.5880 / Low: 1.1391). On the other end, March was the most stable month, with a tight range of 0.0087 ETB (High: 0.8383 / Low: 0.8296).
Growth Streaks & Declines
TrendsBetween March and October, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 7 straight months. Conversely, the sharpest month-over-month decline occurred between October and November, when the average rate fell by 0.0144 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (October 2024: 1.7376) against the same month in 2023 (average: 0.8475), the exchange rate shifted by +0.8901 (+105.02%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 0.8419 | 0.8317 | 0.8385 |
| February | 0.8473 | 0.8324 | 0.8376 |
| March | 0.8383 | 0.8296 | 0.8351 |
| April | 0.8471 | 0.8334 | 0.8381 |
| May | 0.8497 | 0.8408 | 0.8459 |
| June | 0.8527 | 0.8422 | 0.8486 |
| July | 1.0853 | 0.8450 | 0.8586 |
| August | 1.5880 | 1.1391 | 1.4735 |
| September | 1.7497 | 1.5640 | 1.6604 |
| October | 1.7884 | 1.6929 | 1.7376 |
| November | 1.7811 | 1.6807 | 1.7232 |
| December | 1.7817 | 1.7245 | 1.7635 |