2023 RWF to NGN Historical Review

YEARLY HIGH

0.7158 NGN

YEARLY LOW

0.4046 NGN

YEARLY AVERAGE

0.5424 NGN

2023 RWF to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the RWF to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on October 24, valuing the pair at 0.7158. Conversely, the yearly low was recorded on April 24, dropping to 0.4046.

This high-to-low spread represents a total annual volatility of 0.3111 NGN. From a start-to-finish perspective, comparing the January average rate of 0.4230 to the December average rate of 0.6460, the exchange rate registered a net change of 52.72% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.7158 was up 70.36% compared to the 2022 peak of 0.4202, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 3,579 NGN

2022 Average 2,044 NGN

Yearly Trough Low 2,023 NGN

Transaction Impact: A difference of 1,555.68 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.6906

0.3858

JanuMarcMayJulySeptNove

RWF to NGN 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 0.4361, compared to 0.6488 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.2127 points.

H1 Avg (Jan–Jun) 0.4361

H2 Avg (Jul–Dec) 0.6488

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.3058 NGN (High: 0.7126 / Low: 0.4068). On the other end, February was the most stable month, with a tight range of 0.0053 NGN (High: 0.4258 / Low: 0.4205).

June Spread (Volatile) ±0.3058

February Spread (Stable) ±0.0053

Growth Streaks & Declines

Trends

Between 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 July and August, when the average rate fell by 0.0163 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0163

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (October 2023: 0.6405) against the same month in 2022 (average: 0.4133), the exchange rate shifted by +0.2272 (+54.96%).

2023 Avg (October) 0.6405

2022 Avg (October) 0.4133

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.4281	0.4159	0.4230
February	0.4258	0.4205	0.4237
March	0.4224	0.4136	0.4202
April	0.4201	0.4046	0.4157
May	0.4149	0.4075	0.4112
June	0.7126	0.4068	0.5227
July	0.6786	0.6418	0.6652
August	0.6594	0.6353	0.6488
September	0.6562	0.6191	0.6433
October	0.7158	0.6210	0.6405
November	0.6708	0.6340	0.6488
December	0.7122	0.6067	0.6460