2023 NOK to RWF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 NOK to RWF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the NOK to RWF exchange rate experienced significant fluctuation. The market reached its absolute peak on December 27, valuing the pair at 124.7145. Conversely, the yearly low was recorded on May 30, dropping to 100.7270.
This high-to-low spread represents a total annual volatility of 23.9875 RWF. From a start-to-finish perspective, comparing the January average rate of 108.2885 to the December average rate of 119.3491, the exchange rate registered a net change of 10.21% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 124.7145 was up 4.59% compared to the 2022 peak of 119.2391, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 NOK based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
NOK 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 105.6068, compared to 113.7487 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 8.1419 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was December, with a trading range of 10.9789 RWF (High: 124.7145 / Low: 113.7356). On the other end, September was the most stable month, with a tight range of 3.4243 RWF (High: 114.5983 / Low: 111.1740).
Growth Streaks & Declines
TrendsBetween May and July, 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 January and February, when the average rate fell by 2.2596 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 119.3491) against the same month in 2022 (average: 108.4484), the exchange rate shifted by +10.9007 (+10.05%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 109.8345 | 104.3187 | 108.2885 |
| February | 109.3640 | 104.2616 | 106.0289 |
| March | 107.2914 | 100.8426 | 103.8415 |
| April | 108.6083 | 104.0025 | 105.6197 |
| May | 106.5834 | 100.7270 | 103.7867 |
| June | 109.5670 | 102.0525 | 106.0756 |
| July | 117.5856 | 107.1925 | 113.6779 |
| August | 116.1573 | 110.6564 | 112.9609 |
| September | 114.5983 | 111.1740 | 112.1635 |
| October | 114.5965 | 109.2992 | 111.0990 |
| November | 117.1713 | 109.7602 | 113.2415 |
| December | 124.7145 | 113.7356 | 119.3491 |