2023 SGD to MZN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 SGD to MZN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the SGD to MZN exchange rate experienced significant fluctuation. The market reached its absolute peak on February 1, valuing the pair at 48.9520. Conversely, the yearly low was recorded on October 2, dropping to 46.4858.
This high-to-low spread represents a total annual volatility of 2.4662 MZN. From a start-to-finish perspective, comparing the January average rate of 48.2301 to the December average rate of 47.9794, the exchange rate registered a net change of -0.52% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 48.9520 was up 2.78% compared to the 2022 peak of 47.6284, 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 2023.
SGD to MZN 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 47.8149, compared to 47.3197 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.4953 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was February, with a trading range of 1.6187 MZN (High: 48.9520 / Low: 47.3333). On the other end, October was the most stable month, with a tight range of 0.4078 MZN (High: 46.8936 / Low: 46.4858).
Growth Streaks & Declines
TrendsBetween 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 0.5138 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (February 2023: 47.9391) against the same month in 2022 (average: 47.3808), the exchange rate shifted by +0.5583 (+1.18%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 48.7191 | 47.4855 | 48.2301 |
| February | 48.9520 | 47.3333 | 47.9391 |
| March | 48.1211 | 47.1386 | 47.6437 |
| April | 48.3275 | 47.7418 | 47.9540 |
| May | 48.2140 | 47.1656 | 47.6683 |
| June | 47.8066 | 47.1314 | 47.4545 |
| July | 48.3572 | 46.8113 | 47.7781 |
| August | 47.7733 | 46.9540 | 47.2644 |
| September | 47.1754 | 46.5435 | 46.8622 |
| October | 46.8936 | 46.4858 | 46.6538 |
| November | 48.0166 | 46.7647 | 47.3801 |
| December | 48.4265 | 47.5110 | 47.9794 |