2023 HKD to CNY Historical Review

YEARLY HIGH

0.9366 CNY

YEARLY LOW

0.8570 CNY

YEARLY AVERAGE

0.9034 CNY

2023 HKD to CNY Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the HKD to CNY exchange rate experienced significant fluctuation. The market reached its absolute peak on September 8, valuing the pair at 0.9366. Conversely, the yearly low was recorded on January 14, dropping to 0.8570.

This high-to-low spread represents a total annual volatility of 0.0796 CNY. From a start-to-finish perspective, comparing the January average rate of 0.8685 to the December average rate of 0.9115, the exchange rate registered a net change of 4.95% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.9366 was up 0.64% compared to the 2022 peak of 0.9306, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 25,000 HKD based on timing:

Yearly Peak High 23,414 CNY

2022 Average 21,486 CNY

Yearly Trough Low 21,426 CNY

Transaction Impact: A difference of 1,988.87 CNY purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.9377

0.8622

JanuMarcMayJulySeptNove

HKD to CNY 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 0.8836, compared to 0.9233 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0397 points.

H1 Avg (Jan–Jun) 0.8836

H2 Avg (Jul–Dec) 0.9233

Volatility Range Comparison

Volatility

The most volatile month in 2023 was November, with a trading range of 0.0282 CNY (High: 0.9354 / Low: 0.9072). On the other end, April was the most stable month, with a tight range of 0.0082 CNY (High: 0.8832 / Low: 0.8750).

November Spread (Volatile) ±0.0282

April Spread (Stable) ±0.0082

Growth Streaks & Declines

Trends

Between April and September, 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 November and December, when the average rate fell by 0.0114 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0114

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (September 2023: 0.9314) against the same month in 2022 (average: 0.8929), the exchange rate shifted by +0.0385 (+4.31%).

2023 Avg (September) 0.9314

2022 Avg (September) 0.8929

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.8850	0.8570	0.8685
February	0.8863	0.8582	0.8722
March	0.8873	0.8688	0.8782
April	0.8832	0.8750	0.8773
May	0.9081	0.8802	0.8917
June	0.9256	0.9039	0.9134
July	0.9270	0.9112	0.9193
August	0.9319	0.9142	0.9250
September	0.9366	0.9236	0.9314
October	0.9356	0.9160	0.9297
November	0.9354	0.9072	0.9229
December	0.9192	0.9050	0.9115