2023 IQD to MGA Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 IQD to MGA Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the IQD to MGA exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 3.5202. Conversely, the yearly low was recorded on January 26, dropping to 2.9169.
This high-to-low spread represents a total annual volatility of 0.6034 MGA. From a start-to-finish perspective, comparing the January average rate of 3.0134 to the December average rate of 3.4962, the exchange rate registered a net change of 16.02% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 3.5202 was up 14.76% compared to the 2022 peak of 3.0674, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 IQD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
IQD to MGA 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 3.1150, compared to 3.4545 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.3395 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was April, with a trading range of 0.3784 MGA (High: 3.3434 / Low: 2.9651). On the other end, October was the most stable month, with a tight range of 0.0322 MGA (High: 3.4726 / Low: 3.4404).
Growth Streaks & Declines
TrendsBetween February and July, 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 January and February, when the average rate fell by 0.0690 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 3.4962) against the same month in 2022 (average: 3.0275), the exchange rate shifted by +0.4687 (+15.48%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 3.1122 | 2.9169 | 3.0134 |
| February | 2.9814 | 2.9227 | 2.9444 |
| March | 2.9920 | 2.9411 | 2.9569 |
| April | 3.3434 | 2.9651 | 3.0193 |
| May | 3.3695 | 3.0082 | 3.3387 |
| June | 3.4698 | 3.3568 | 3.4175 |
| July | 3.4889 | 3.3778 | 3.4392 |
| August | 3.4591 | 3.3698 | 3.4372 |
| September | 3.4727 | 3.4160 | 3.4437 |
| October | 3.4726 | 3.4404 | 3.4587 |
| November | 3.4749 | 3.4258 | 3.4519 |
| December | 3.5202 | 3.4351 | 3.4962 |