2023 PKR to MGA Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 PKR to MGA Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the PKR to MGA exchange rate experienced significant fluctuation. The market reached its absolute peak on January 5, valuing the pair at 19.9121. Conversely, the yearly low was recorded on September 6, dropping to 14.5537.
This high-to-low spread represents a total annual volatility of 5.3584 MGA. From a start-to-finish perspective, comparing the January average rate of 18.8713 to the December average rate of 16.2493, the exchange rate registered a net change of -13.89% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 19.9121 was down 13.06% compared to the 2022 peak of 22.9033, indicating shifts in long-term support levels.
Comparing the value generated converting 500,000 PKR based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
PKR to MGA 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 16.1527, compared to 15.8071 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.3456 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was January, with a trading range of 3.9217 MGA (High: 19.9121 / Low: 15.9903). On the other end, June was the most stable month, with a tight range of 0.4550 MGA (High: 15.8679 / Low: 15.4129).
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 2.6724 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2023: 18.8713) against the same month in 2022 (average: 22.5428), the exchange rate shifted by -3.6715 (-16.29%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 19.9121 | 15.9903 | 18.8713 |
| February | 17.1868 | 15.5621 | 16.1989 |
| March | 16.3862 | 15.1956 | 15.3880 |
| April | 15.7661 | 15.1095 | 15.4343 |
| May | 15.5452 | 14.8698 | 15.4073 |
| June | 15.8679 | 15.4129 | 15.6165 |
| July | 16.6499 | 15.3707 | 15.9885 |
| August | 15.9177 | 14.8395 | 15.3469 |
| September | 15.7804 | 14.5537 | 15.1576 |
| October | 16.4423 | 15.7433 | 16.2086 |
| November | 16.2177 | 15.5887 | 15.8916 |
| December | 16.5635 | 15.7770 | 16.2493 |