2023 MKD to RWF Historical Review

YEARLY HIGH

22.7849 RWF

YEARLY LOW

18.2334 RWF

YEARLY AVERAGE

20.3413 RWF

2023 MKD to RWF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MKD to RWF exchange rate experienced significant fluctuation. The market reached its absolute peak on December 28, valuing the pair at 22.7849. Conversely, the yearly low was recorded on January 8, dropping to 18.2334.

This high-to-low spread represents a total annual volatility of 4.5515 RWF. From a start-to-finish perspective, comparing the January average rate of 18.7970 to the December average rate of 22.2414, the exchange rate registered a net change of 18.32% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 22.7849 was up 18.05% compared to the 2022 peak of 19.3017, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 MKD based on timing:

Yearly Peak High 113,925 RWF

2022 Average 88,585 RWF

Yearly Trough Low 91,167 RWF

Transaction Impact: A difference of 22,757.69 RWF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

22.5859

18.4526

JanuMarcMayJulySeptNove

MKD to RWF 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 19.3978, compared to 21.2849 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 1.8871 points.

H1 Avg (Jan–Jun) 19.3978

H2 Avg (Jul–Dec) 21.2849

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 1.2830 RWF (High: 20.8542 / Low: 19.5712). On the other end, September was the most stable month, with a tight range of 0.3137 RWF (High: 21.0583 / Low: 20.7446).

June Spread (Volatile) ±1.2830

September Spread (Stable) ±0.3137

Growth Streaks & Declines

Trends

Between 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 0.0787 points.

Longest Streak 6 Mo.

Sharpest MoM Drop -0.0787

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 22.2414) against the same month in 2022 (average: 18.3982), the exchange rate shifted by +3.8432 (+20.89%).

2023 Avg (December) 22.2414

2022 Avg (December) 18.3982

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	19.1488	18.2334	18.7970
February	19.2794	18.7000	18.8867
March	19.6017	18.6732	19.0114
April	20.3457	19.4496	19.7678
May	20.0152	19.5612	19.7951
June	20.8542	19.5712	20.1285
July	21.3636	20.4583	20.9760
August	21.1610	20.8255	20.9562
September	21.0583	20.7446	20.8776
October	21.2598	20.6578	20.9825
November	22.1807	21.1099	21.6755
December	22.7849	21.8139	22.2414