2023 MXN to RWF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 MXN to RWF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the MXN to RWF exchange rate experienced significant fluctuation. The market reached its absolute peak on December 27, valuing the pair at 74.4348. Conversely, the yearly low was recorded on January 2, dropping to 54.9114.
This high-to-low spread represents a total annual volatility of 19.5234 RWF. From a start-to-finish perspective, comparing the January average rate of 56.6800 to the December average rate of 73.0567, the exchange rate registered a net change of 28.89% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 74.4348 was up 32.80% compared to the 2022 peak of 56.0513, indicating shifts in long-term support levels.
Comparing the value generated converting 50,000 MXN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
MXN 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 60.9407, compared to 69.9907 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 9.0500 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was June, with a trading range of 4.5108 RWF (High: 68.7977 / Low: 64.2870). On the other end, September was the most stable month, with a tight range of 2.3603 RWF (High: 70.5556 / Low: 68.1954).
Growth Streaks & Declines
TrendsBetween January and August, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 7 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 2.0055 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 73.0567) against the same month in 2022 (average: 54.6618), the exchange rate shifted by +18.3948 (+33.65%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 57.6463 | 54.9114 | 56.6800 |
| February | 59.5240 | 56.6843 | 58.4323 |
| March | 61.5363 | 57.0617 | 59.4517 |
| April | 63.0983 | 60.3368 | 61.4155 |
| May | 64.2893 | 61.9262 | 63.2903 |
| June | 68.7977 | 64.2870 | 66.3741 |
| July | 71.1868 | 67.2885 | 69.0496 |
| August | 71.2031 | 68.0639 | 69.6423 |
| September | 70.5556 | 68.1954 | 69.5755 |
| October | 70.1647 | 66.2196 | 67.5700 |
| November | 72.5597 | 69.2246 | 71.0501 |
| December | 74.4348 | 71.2655 | 73.0567 |