2023 SGD to TWD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 SGD to TWD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the SGD to TWD exchange rate experienced significant fluctuation. The market reached its absolute peak on November 12, valuing the pair at 23.7965. Conversely, the yearly low was recorded on March 14, dropping to 22.5936.
This high-to-low spread represents a total annual volatility of 1.2029 TWD. From a start-to-finish perspective, comparing the January average rate of 22.9431 to the December average rate of 23.4442, the exchange rate registered a net change of 2.18% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 23.7965 was up 4.04% compared to the 2022 peak of 22.8726, 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 TWD 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 22.8637, compared to 23.5144 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.6507 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was July, with a trading range of 0.6187 TWD (High: 23.6460 / Low: 23.0273). On the other end, February was the most stable month, with a tight range of 0.1605 TWD (High: 22.7789 / Low: 22.6184).
Growth Streaks & Declines
TrendsBetween February and April, 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 January and February, when the average rate fell by 0.2335 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2023: 23.6562) against the same month in 2022 (average: 22.6329), the exchange rate shifted by +1.0233 (+4.52%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 23.0660 | 22.7909 | 22.9431 |
| February | 22.7789 | 22.6184 | 22.7096 |
| March | 22.9681 | 22.5936 | 22.7852 |
| April | 23.0414 | 22.8274 | 22.9429 |
| May | 23.1516 | 22.6141 | 22.9140 |
| June | 23.0912 | 22.7083 | 22.8873 |
| July | 23.6460 | 23.0273 | 23.3624 |
| August | 23.6750 | 23.4483 | 23.5511 |
| September | 23.6046 | 23.3687 | 23.4890 |
| October | 23.7308 | 23.4987 | 23.5831 |
| November | 23.7965 | 23.4609 | 23.6562 |
| December | 23.5638 | 23.2328 | 23.4442 |