2023 MVR to PHP Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 MVR to PHP Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the MVR to PHP exchange rate experienced significant fluctuation. The market reached its absolute peak on September 5, valuing the pair at 3.7058. Conversely, the yearly low was recorded on February 5, dropping to 3.4960.
This high-to-low spread represents a total annual volatility of 0.2099 PHP. From a start-to-finish perspective, comparing the January average rate of 3.5708 to the December average rate of 3.6115, the exchange rate registered a net change of 1.14% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 3.7058 was down 3.27% compared to the 2022 peak of 3.8312, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 MVR based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
MVR to PHP 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 3.5955, compared to 3.6409 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0455 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was April, with a trading range of 0.1452 PHP (High: 3.6684 / Low: 3.5232). On the other end, October was the most stable month, with a tight range of 0.0286 PHP (High: 3.7039 / Low: 3.6754).
Growth Streaks & Declines
TrendsBetween March and June, 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 June and July, when the average rate fell by 0.0664 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (September 2023: 3.6838) against the same month in 2022 (average: 3.7333), the exchange rate shifted by -0.0495 (-1.33%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 3.6321 | 3.5404 | 3.5708 |
| February | 3.6149 | 3.4960 | 3.5727 |
| March | 3.6169 | 3.5078 | 3.5598 |
| April | 3.6684 | 3.5232 | 3.5978 |
| May | 3.6834 | 3.6050 | 3.6343 |
| June | 3.6654 | 3.6053 | 3.6374 |
| July | 3.6196 | 3.5267 | 3.5710 |
| August | 3.7050 | 3.5743 | 3.6628 |
| September | 3.7058 | 3.6614 | 3.6838 |
| October | 3.7039 | 3.6754 | 3.6899 |
| November | 3.6852 | 3.5717 | 3.6265 |
| December | 3.6296 | 3.5956 | 3.6115 |