2023 ISK to BIF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 ISK to BIF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the ISK to BIF exchange rate experienced significant fluctuation. The market reached its absolute peak on August 30, valuing the pair at 21.7225. Conversely, the yearly low was recorded on February 25, dropping to 14.2561.
This high-to-low spread represents a total annual volatility of 7.4664 BIF. From a start-to-finish perspective, comparing the January average rate of 14.4788 to the December average rate of 20.6823, the exchange rate registered a net change of 42.85% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 21.7225 was up 34.08% compared to the 2022 peak of 16.2008, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 ISK based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
ISK to BIF 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 16.1390, compared to 20.8750 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 4.7359 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was May, with a trading range of 5.4702 BIF (High: 20.2880 / Low: 14.8179). On the other end, August was the most stable month, with a tight range of 0.3336 BIF (High: 21.7225 / Low: 21.3889).
Growth Streaks & Declines
TrendsBetween January and August, 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 August and September, when the average rate fell by 0.5387 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (August 2023: 21.4978) against the same month in 2022 (average: 14.8313), the exchange rate shifted by +6.6664 (+44.95%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 14.6955 | 14.2942 | 14.4788 |
| February | 14.8784 | 14.2561 | 14.4920 |
| March | 15.3204 | 14.5334 | 14.8416 |
| April | 15.4205 | 15.0864 | 15.2341 |
| May | 20.2880 | 14.8179 | 17.2606 |
| June | 20.9975 | 20.0497 | 20.5271 |
| July | 21.6937 | 20.5775 | 21.3280 |
| August | 21.7225 | 21.3889 | 21.4978 |
| September | 21.4580 | 20.6033 | 20.9590 |
| October | 20.7391 | 20.3127 | 20.4793 |
| November | 20.7772 | 19.7941 | 20.3033 |
| December | 21.0834 | 20.3367 | 20.6823 |