2023 RWF to ZAR Historical Review

YEARLY HIGH

0.0175 ZAR

YEARLY LOW

0.0145 ZAR

YEARLY AVERAGE

0.0160 ZAR

2023 RWF to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the RWF to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on May 25, valuing the pair at 0.0175. Conversely, the yearly low was recorded on December 31, dropping to 0.0145.

This high-to-low spread represents a total annual volatility of 0.0030 ZAR. From a start-to-finish perspective, comparing the January average rate of 0.0159 to the December average rate of 0.0148, the exchange rate registered a net change of -6.66% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0175 was up 0.14% compared to the 2022 peak of 0.0175, 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 88 ZAR

2022 Average 79 ZAR

Yearly Trough Low 73 ZAR

Transaction Impact: A difference of 15.21 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0172

0.0146

JanuMarcMayJulySeptNove

RWF to ZAR 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 0.0165, compared to 0.0154 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0010 points.

H1 Avg (Jan–Jun) 0.0165

H2 Avg (Jul–Dec) 0.0154

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 0.0017 ZAR (High: 0.0165 / Low: 0.0148). On the other end, January was the most stable month, with a tight range of 0.0005 ZAR (High: 0.0161 / Low: 0.0156).

July Spread (Volatile) ±0.0017

January Spread (Stable) ±0.0005

Growth Streaks & Declines

Trends

Between January and March, 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 June and July, when the average rate fell by 0.0008 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0008

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 0.0170) against the same month in 2022 (average: 0.0155), the exchange rate shifted by +0.0015 (+9.53%).

2023 Avg (May) 0.0170

2022 Avg (May) 0.0155

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0161	0.0156	0.0159
February	0.0169	0.0157	0.0165
March	0.0174	0.0160	0.0167
April	0.0167	0.0159	0.0164
May	0.0175	0.0164	0.0170
June	0.0174	0.0159	0.0164
July	0.0165	0.0148	0.0156
August	0.0162	0.0155	0.0159
September	0.0161	0.0155	0.0158
October	0.0161	0.0152	0.0156
November	0.0153	0.0146	0.0150
December	0.0153	0.0145	0.0148