2024 SGD to GMD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 SGD to GMD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the SGD to GMD exchange rate experienced significant fluctuation. The market reached its absolute peak on September 12, valuing the pair at 54.5877. Conversely, the yearly low was recorded on April 30, dropping to 49.6406.
This high-to-low spread represents a total annual volatility of 4.9471 GMD. From a start-to-finish perspective, comparing the January average rate of 50.3741 to the December average rate of 53.1525, the exchange rate registered a net change of 5.52% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 54.5877 was up 6.92% compared to the 2023 peak of 51.0533, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 SGD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
SGD to GMD 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 50.2621, compared to 52.7426 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 2.4805 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was August, with a trading range of 2.9394 GMD (High: 54.5555 / Low: 51.6162). On the other end, February was the most stable month, with a tight range of 0.4897 GMD (High: 50.5238 / Low: 50.0342).
Growth Streaks & Declines
TrendsBetween June and September, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 0.8311 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (September 2024: 53.6934) against the same month in 2023 (average: 45.3380), the exchange rate shifted by +8.3554 (+18.43%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 51.0174 | 50.0245 | 50.3741 |
| February | 50.5238 | 50.0342 | 50.2578 |
| March | 51.0975 | 50.3118 | 50.6453 |
| April | 50.4910 | 49.6406 | 50.0213 |
| May | 50.4870 | 49.7969 | 50.1717 |
| June | 50.3709 | 49.8566 | 50.1024 |
| July | 52.0104 | 49.8960 | 50.4041 |
| August | 54.5555 | 51.6162 | 53.0943 |
| September | 54.5877 | 52.8546 | 53.6934 |
| October | 54.1728 | 51.7505 | 52.8623 |
| November | 54.4312 | 52.6395 | 53.2490 |
| December | 53.7173 | 52.6720 | 53.1525 |