2023 MVR to PKR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 MVR to PKR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the MVR to PKR exchange rate experienced significant fluctuation. The market reached its absolute peak on September 5, valuing the pair at 20.0064. Conversely, the yearly low was recorded on January 1, dropping to 14.7176.
This high-to-low spread represents a total annual volatility of 5.2888 PKR. From a start-to-finish perspective, comparing the January average rate of 15.1942 to the December average rate of 18.3459, the exchange rate registered a net change of 20.74% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 20.0064 was up 28.36% compared to the 2022 peak of 15.5867, 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 PKR 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 17.7455, compared to 18.6184 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.8729 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was January, with a trading range of 2.7285 PKR (High: 17.4461 / Low: 14.7176). On the other end, June was the most stable month, with a tight range of 0.1486 PKR (High: 18.7231 / Low: 18.5745).
Growth Streaks & Declines
TrendsBetween January and June, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 1.1543 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (September 2023: 19.3108) against the same month in 2022 (average: 14.9238), the exchange rate shifted by +4.3870 (+29.40%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 17.4461 | 14.7176 | 15.1942 |
| February | 17.9615 | 16.3193 | 17.2899 |
| March | 18.4558 | 17.0745 | 18.2211 |
| April | 18.7887 | 18.1685 | 18.4702 |
| May | 19.2480 | 18.4605 | 18.6185 |
| June | 18.7231 | 18.5745 | 18.6792 |
| July | 18.7428 | 17.6982 | 18.3155 |
| August | 19.7859 | 18.4712 | 19.0907 |
| September | 20.0064 | 18.5870 | 19.3108 |
| October | 18.8304 | 17.8804 | 18.1565 |
| November | 18.8533 | 18.1014 | 18.4912 |
| December | 18.5693 | 18.0661 | 18.3459 |