2023 NZD to SGD Historical Review

YEARLY HIGH

0.8571 SGD

YEARLY LOW

0.7949 SGD

YEARLY AVERAGE

0.8246 SGD

2023 NZD to SGD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NZD to SGD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 22, valuing the pair at 0.8571. Conversely, the yearly low was recorded on October 25, dropping to 0.7949.

This high-to-low spread represents a total annual volatility of 0.0622 SGD. From a start-to-finish perspective, comparing the January average rate of 0.8485 to the December average rate of 0.8292, the exchange rate registered a net change of -2.27% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.8571 was down 9.50% compared to the 2022 peak of 0.9471, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 4,286 SGD

2022 Average 4,380 SGD

Yearly Trough Low 3,974 SGD

Transaction Impact: A difference of 311.22 SGD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.8526

0.8028

JanuMarcMayJulySeptNove

NZD to SGD 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 0.8338, compared to 0.8155 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0183 points.

H1 Avg (Jan–Jun) 0.8338

H2 Avg (Jul–Dec) 0.8155

Volatility Range Comparison

Volatility

The most volatile month in 2023 was May, with a trading range of 0.0322 SGD (High: 0.8462 / Low: 0.8140). On the other end, March was the most stable month, with a tight range of 0.0161 SGD (High: 0.8416 / Low: 0.8254).

May Spread (Volatile) ±0.0322

March Spread (Stable) ±0.0161

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 July and August, when the average rate fell by 0.0218 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0218

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.8485) against the same month in 2022 (average: 0.9104), the exchange rate shifted by -0.0619 (-6.80%).

2023 Avg (January) 0.8485

2022 Avg (January) 0.9104

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.8571	0.8379	0.8485
February	0.8505	0.8302	0.8372
March	0.8416	0.8254	0.8323
April	0.8392	0.8171	0.8271
May	0.8462	0.8140	0.8317
June	0.8342	0.8147	0.8261
July	0.8454	0.8200	0.8308
August	0.8195	0.8004	0.8090
September	0.8190	0.8008	0.8082
October	0.8233	0.7949	0.8070
November	0.8232	0.7993	0.8086
December	0.8377	0.8215	0.8292