2023 MAD to RWF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 MAD to RWF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the MAD to RWF exchange rate experienced significant fluctuation. The market reached its absolute peak on December 27, valuing the pair at 127.9750. Conversely, the yearly low was recorded on January 3, dropping to 101.7021.
This high-to-low spread represents a total annual volatility of 26.2729 RWF. From a start-to-finish perspective, comparing the January average rate of 105.0446 to the December average rate of 124.8996, the exchange rate registered a net change of 18.90% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 127.9750 was up 13.47% compared to the 2022 peak of 112.7849, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 MAD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
MAD 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 108.4865, compared to 120.4037 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 11.9172 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was June, with a trading range of 7.6713 RWF (High: 118.5209 / Low: 110.8496). On the other end, May was the most stable month, with a tight range of 2.1393 RWF (High: 112.1074 / Low: 109.9682).
Growth Streaks & Declines
TrendsBetween January and July, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 6 straight months. Conversely, the sharpest month-over-month decline occurred between August and September, when the average rate fell by 1.8740 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 124.8996) against the same month in 2022 (average: 101.8057), the exchange rate shifted by +23.0940 (+22.68%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 106.6461 | 101.7021 | 105.0446 |
| February | 107.3938 | 104.4540 | 105.4753 |
| March | 108.6724 | 104.3888 | 105.9257 |
| April | 112.6338 | 108.0191 | 109.5520 |
| May | 112.1074 | 109.9682 | 111.0104 |
| June | 118.5209 | 110.8496 | 113.9111 |
| July | 122.4878 | 117.4611 | 119.9682 |
| August | 121.4732 | 116.7193 | 119.4844 |
| September | 119.0901 | 116.4230 | 117.6103 |
| October | 119.8680 | 117.1393 | 118.9598 |
| November | 123.7740 | 119.5025 | 121.4998 |
| December | 127.9750 | 122.8889 | 124.8996 |