2023 SGD to RWF Historical Review

YEARLY HIGH

956.2257 RWF

YEARLY LOW

794.9108 RWF

YEARLY AVERAGE

862.1846 RWF

2023 SGD to RWF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the SGD to RWF exchange rate experienced significant fluctuation. The market reached its absolute peak on December 28, valuing the pair at 956.2257. Conversely, the yearly low was recorded on January 3, dropping to 794.9108.

This high-to-low spread represents a total annual volatility of 161.3149 RWF. From a start-to-finish perspective, comparing the January average rate of 811.3862 to the December average rate of 941.9112, the exchange rate registered a net change of 16.09% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 956.2257 was up 19.30% compared to the 2022 peak of 801.5215, 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 4,781,128 RWF

2022 Average 3,758,432 RWF

Yearly Trough Low 3,974,554 RWF

Transaction Impact: A difference of 806,574.48 RWF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

954.9637

798.3337

JanuMarcMayJulySeptNove

SGD to RWF 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 827.1135, compared to 897.2557 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 70.1422 points.

H1 Avg (Jan–Jun) 827.1135

H2 Avg (Jul–Dec) 897.2557

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 40.2703 RWF (High: 892.0585 / Low: 851.7882). On the other end, May was the most stable month, with a tight range of 13.3205 RWF (High: 845.0485 / Low: 831.7280).

July Spread (Volatile) ±40.2703

May Spread (Stable) ±13.3205

Growth Streaks & Declines

Trends

Between January and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 11 straight months. No significant month-over-month rate declines were detected.

Longest Streak 11 Mo.

Sharpest MoM Drop -0.0000

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 941.9112) against the same month in 2022 (average: 791.8292), the exchange rate shifted by +150.0820 (+18.95%).

2023 Avg (December) 941.9112

2022 Avg (December) 791.8292

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	824.4244	794.9108	811.3862
February	831.0161	806.3345	815.0256
March	837.3951	804.5208	815.8631
April	851.2146	825.1134	833.0505
May	845.0485	831.7280	837.2963
June	869.0125	836.8512	850.0596
July	892.0585	851.7882	875.1009
August	884.1720	868.5789	875.5428
September	895.7146	875.7695	882.6401
October	905.1398	883.7833	892.7227
November	934.3968	900.2428	915.6166
December	956.2257	928.4312	941.9112