2023 SGD to MVR Historical Review

YEARLY HIGH

11.7669 MVR

YEARLY LOW

11.1755 MVR

YEARLY AVERAGE

11.4472 MVR

2023 SGD to MVR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the SGD to MVR exchange rate experienced significant fluctuation. The market reached its absolute peak on February 1, valuing the pair at 11.7669. Conversely, the yearly low was recorded on October 2, dropping to 11.1755.

This high-to-low spread represents a total annual volatility of 0.5913 MVR. From a start-to-finish perspective, comparing the January average rate of 11.6143 to the December average rate of 11.5470, the exchange rate registered a net change of -0.58% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 11.7669 was up 2.15% compared to the 2022 peak of 11.5193, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 58,834 MVR

2022 Average 55,953 MVR

Yearly Trough Low 55,878 MVR

Transaction Impact: A difference of 2,956.75 MVR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

11.6516

11.2037

JanuMarcMayJulySeptNove

SGD to MVR 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 11.4963, compared to 11.3982 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0981 points.

H1 Avg (Jan–Jun) 11.4963

H2 Avg (Jul–Dec) 11.3982

Volatility Range Comparison

Volatility

The most volatile month in 2023 was February, with a trading range of 0.3965 MVR (High: 11.7669 / Low: 11.3704). On the other end, October was the most stable month, with a tight range of 0.1322 MVR (High: 11.3077 / Low: 11.1755).

February Spread (Volatile) ±0.3965

October Spread (Stable) ±0.1322

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 0.1395 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.1395

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (February 2023: 11.5180) against the same month in 2022 (average: 11.4656), the exchange rate shifted by +0.0524 (+0.46%).

2023 Avg (February) 11.5180

2022 Avg (February) 11.4656

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	11.7149	11.4515	11.6143
February	11.7669	11.3704	11.5180
March	11.6123	11.3325	11.4664
April	11.6168	11.4730	11.5300
May	11.5955	11.2994	11.4524
June	11.4869	11.2879	11.3964
July	11.6663	11.3183	11.5179
August	11.5079	11.2944	11.3784
September	11.3815	11.2488	11.3081
October	11.3077	11.1755	11.2410
November	11.5505	11.2223	11.3966
December	11.6709	11.4369	11.5470