2023 HNL to SGD Historical Review

YEARLY HIGH

0.0557 SGD

YEARLY LOW

0.0529 SGD

YEARLY AVERAGE

0.0545 SGD

2023 HNL to SGD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the HNL to SGD exchange rate experienced significant fluctuation. The market reached its absolute peak on October 21, valuing the pair at 0.0557. Conversely, the yearly low was recorded on February 1, dropping to 0.0529.

This high-to-low spread represents a total annual volatility of 0.0028 SGD. From a start-to-finish perspective, comparing the January average rate of 0.0537 to the December average rate of 0.0539, the exchange rate registered a net change of 0.31% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0557 was down 4.48% compared to the 2022 peak of 0.0584, 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 279 SGD

2022 Average 280 SGD

Yearly Trough Low 265 SGD

Transaction Impact: A difference of 14.11 SGD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0556

0.0535

JanuMarcMayJulySeptNove

HNL to SGD 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 0.0542, compared to 0.0547 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0004 points.

H1 Avg (Jan–Jun) 0.0542

H2 Avg (Jul–Dec) 0.0547

Volatility Range Comparison

Volatility

The most volatile month in 2023 was February, with a trading range of 0.0019 SGD (High: 0.0548 / Low: 0.0529). On the other end, October was the most stable month, with a tight range of 0.0007 SGD (High: 0.0557 / Low: 0.0550).

February Spread (Volatile) ±0.0019

October Spread (Stable) ±0.0007

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 0.0008 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0008

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (October 2023: 0.0554) against the same month in 2022 (average: 0.0575), the exchange rate shifted by -0.0021 (-3.63%).

2023 Avg (October) 0.0554

2022 Avg (October) 0.0575

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0545	0.0531	0.0537
February	0.0548	0.0529	0.0541
March	0.0552	0.0539	0.0544
April	0.0549	0.0537	0.0542
May	0.0551	0.0537	0.0544
June	0.0552	0.0541	0.0546
July	0.0553	0.0536	0.0542
August	0.0554	0.0542	0.0549
September	0.0555	0.0547	0.0550
October	0.0557	0.0550	0.0554
November	0.0554	0.0538	0.0546
December	0.0544	0.0534	0.0539