2023 NOK to GHS Historical Review

YEARLY HIGH

1.2639 GHS

YEARLY LOW

0.8528 GHS

YEARLY AVERAGE

1.1083 GHS

2023 NOK to GHS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NOK to GHS exchange rate experienced significant fluctuation. The market reached its absolute peak on January 27, valuing the pair at 1.2639. Conversely, the yearly low was recorded on January 1, dropping to 0.8528.

This high-to-low spread represents a total annual volatility of 0.4111 GHS. From a start-to-finish perspective, comparing the January average rate of 1.1539 to the December average rate of 1.1440, the exchange rate registered a net change of -0.85% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 1.2639 was down 13.89% compared to the 2022 peak of 1.4678, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 6,319 GHS

2022 Average 4,648 GHS

Yearly Trough Low 4,264 GHS

Transaction Impact: A difference of 2,055.60 GHS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

1.2352

1.0327

JanuMarcMayJulySeptNove

NOK to GHS 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 1.1222, compared to 1.0945 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0277 points.

H1 Avg (Jan–Jun) 1.1222

H2 Avg (Jul–Dec) 1.0945

Volatility Range Comparison

Volatility

The most volatile month in 2023 was January, with a trading range of 0.4111 GHS (High: 1.2639 / Low: 0.8528). On the other end, September was the most stable month, with a tight range of 0.0243 GHS (High: 1.0882 / Low: 1.0639).

January Spread (Volatile) ±0.4111

September Spread (Stable) ±0.0243

Growth Streaks & Declines

Trends

Between October and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.0815 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0815

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 1.1539) against the same month in 2022 (average: 0.7023), the exchange rate shifted by +0.4516 (+64.30%).

2023 Avg (January) 1.1539

2022 Avg (January) 0.7023

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.2639	0.8528	1.1539
February	1.2514	1.1801	1.2183
March	1.2319	1.1106	1.1705
April	1.1504	1.0267	1.0891
May	1.1233	0.9748	1.0518
June	1.0815	1.0102	1.0496
July	1.1543	1.0538	1.1102
August	1.1148	1.0572	1.0770
September	1.0882	1.0639	1.0708
October	1.0908	1.0556	1.0692
November	1.1307	1.0642	1.0956
December	1.1897	1.0942	1.1440