2023 JPY to RWF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 JPY to RWF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the JPY to RWF exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 8.9456. Conversely, the yearly low was recorded on March 7, dropping to 7.9373.
This high-to-low spread represents a total annual volatility of 1.0083 RWF. From a start-to-finish perspective, comparing the January average rate of 8.2570 to the December average rate of 8.7304, the exchange rate registered a net change of 5.73% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 8.9456 was down 1.69% compared to the 2022 peak of 9.0995, indicating shifts in long-term support levels.
Comparing the value generated converting 500,000 JPY based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
JPY to RWF 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 8.1983, compared to 8.2883 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0900 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was March, with a trading range of 0.5477 RWF (High: 8.4850 / Low: 7.9373). On the other end, September was the most stable month, with a tight range of 0.1163 RWF (High: 8.1987 / Low: 8.0824).
Growth Streaks & Declines
TrendsBetween September and December, 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 April and May, when the average rate fell by 0.1319 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 8.7304) against the same month in 2022 (average: 7.9454), the exchange rate shifted by +0.7850 (+9.88%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 8.4053 | 8.0257 | 8.2570 |
| February | 8.4572 | 7.9750 | 8.1586 |
| March | 8.4850 | 7.9373 | 8.1910 |
| April | 8.4610 | 8.1393 | 8.3085 |
| May | 8.3478 | 8.0042 | 8.1765 |
| June | 8.1994 | 7.9752 | 8.0982 |
| July | 8.4716 | 7.9793 | 8.2771 |
| August | 8.3083 | 8.0978 | 8.1695 |
| September | 8.1987 | 8.0824 | 8.1414 |
| October | 8.3237 | 8.1206 | 8.1712 |
| November | 8.4521 | 8.0854 | 8.2404 |
| December | 8.9456 | 8.4512 | 8.7304 |