2023 HNL to PHP Historical Review

YEARLY HIGH

2.3139 PHP

YEARLY LOW

2.1567 PHP

YEARLY AVERAGE

2.2550 PHP

2023 HNL to PHP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the HNL to PHP exchange rate experienced significant fluctuation. The market reached its absolute peak on September 5, valuing the pair at 2.3139. Conversely, the yearly low was recorded on February 5, dropping to 2.1567.

This high-to-low spread represents a total annual volatility of 0.1572 PHP. From a start-to-finish perspective, comparing the January average rate of 2.2271 to the December average rate of 2.2466, the exchange rate registered a net change of 0.87% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 2.3139 was down 3.70% compared to the 2022 peak of 2.4028, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 11,569 PHP

2022 Average 11,074 PHP

Yearly Trough Low 10,783 PHP

Transaction Impact: A difference of 786.19 PHP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

2.3064

2.2144

JanuMarcMayJulySeptNove

HNL to PHP 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 2.2413, compared to 2.2688 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0275 points.

H1 Avg (Jan–Jun) 2.2413

H2 Avg (Jul–Dec) 2.2688

Volatility Range Comparison

Volatility

The most volatile month in 2023 was February, with a trading range of 0.1087 PHP (High: 2.2653 / Low: 2.1567). On the other end, December was the most stable month, with a tight range of 0.0271 PHP (High: 2.2622 / Low: 2.2351).

February Spread (Volatile) ±0.1087

December Spread (Stable) ±0.0271

Growth Streaks & Declines

Trends

Between July and October, 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 October and November, when the average rate fell by 0.0405 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0405

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (September 2023: 2.2926) against the same month in 2022 (average: 2.3397), the exchange rate shifted by -0.0471 (-2.01%).

2023 Avg (September) 2.2926

2022 Avg (September) 2.3397

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.2674	2.2031	2.2271
February	2.2653	2.1567	2.2252
March	2.2530	2.1942	2.2220
April	2.2893	2.2016	2.2475
May	2.2924	2.2444	2.2645
June	2.2821	2.2331	2.2615
July	2.2732	2.2025	2.2296
August	2.3101	2.2294	2.2871
September	2.3139	2.2713	2.2926
October	2.3135	2.2814	2.2987
November	2.2927	2.2323	2.2582
December	2.2622	2.2351	2.2466