2023 TRY to BIF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 TRY to BIF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the TRY to BIF exchange rate experienced significant fluctuation. The market reached its absolute peak on May 19, valuing the pair at 142.3523. Conversely, the yearly low was recorded on December 29, dropping to 96.6461.
This high-to-low spread represents a total annual volatility of 45.7062 BIF. From a start-to-finish perspective, comparing the January average rate of 110.1606 to the December average rate of 97.9664, the exchange rate registered a net change of -11.07% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 142.3523 was down 7.26% compared to the 2022 peak of 153.4987, indicating shifts in long-term support levels.
Comparing the value generated converting 50,000 TRY based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
TRY to BIF 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 112.9313, compared to 102.6697 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 10.2616 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was May, with a trading range of 37.1989 BIF (High: 142.3523 / Low: 105.1534). On the other end, January was the most stable month, with a tight range of 1.1014 BIF (High: 110.6649 / Low: 109.5636).
Growth Streaks & Declines
TrendsNo sustained consecutive month-over-month growth streak of 2+ months occurred in 2023. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 12.9375 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (May 2023: 120.8256) against the same month in 2022 (average: 130.4200), the exchange rate shifted by -9.5944 (-7.36%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 110.6649 | 109.5636 | 110.1606 |
| February | 110.9642 | 109.3545 | 109.9890 |
| March | 110.3892 | 107.8055 | 109.2734 |
| April | 108.7172 | 105.9573 | 107.4986 |
| May | 142.3523 | 105.1534 | 120.8256 |
| June | 134.9678 | 108.4458 | 119.8406 |
| July | 109.1128 | 104.7622 | 106.9031 |
| August | 109.5622 | 104.0417 | 105.3023 |
| September | 106.1526 | 103.4209 | 104.9970 |
| October | 103.5205 | 100.2493 | 101.7787 |
| November | 100.1997 | 98.1875 | 99.0705 |
| December | 98.8731 | 96.6461 | 97.9664 |