2023 ZAR to GHS Historical Review

YEARLY HIGH

0.7302 GHS

YEARLY LOW

0.4913 GHS

YEARLY AVERAGE

0.6345 GHS

2023 ZAR to GHS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the ZAR to GHS exchange rate experienced significant fluctuation. The market reached its absolute peak on January 13, valuing the pair at 0.7302. Conversely, the yearly low was recorded on January 1, dropping to 0.4913.

This high-to-low spread represents a total annual volatility of 0.2389 GHS. From a start-to-finish perspective, comparing the January average rate of 0.6702 to the December average rate of 0.6465, the exchange rate registered a net change of -3.53% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.7302 was down 14.49% compared to the 2022 peak of 0.8539, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 50,000 ZAR based on timing:

Yearly Peak High 36,512 GHS

2022 Average 27,251 GHS

Yearly Trough Low 24,566 GHS

Transaction Impact: A difference of 11,945.95 GHS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.7067

0.5857

JanuMarcMayJulySeptNove

ZAR to GHS 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 0.6454, compared to 0.6237 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0217 points.

H1 Avg (Jan–Jun) 0.6454

H2 Avg (Jul–Dec) 0.6237

Volatility Range Comparison

Volatility

The most volatile month in 2023 was January, with a trading range of 0.2389 GHS (High: 0.7302 / Low: 0.4913). On the other end, September was the most stable month, with a tight range of 0.0210 GHS (High: 0.6151 / Low: 0.5940).

January Spread (Volatile) ±0.2389

September Spread (Stable) ±0.0210

Growth Streaks & Declines

Trends

Between August and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.0450 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0450

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.6702) against the same month in 2022 (average: 0.4011), the exchange rate shifted by +0.2691 (+67.08%).

2023 Avg (January) 0.6702

2022 Avg (January) 0.4011

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.7302	0.4913	0.6702
February	0.7251	0.6802	0.6966
March	0.7057	0.6535	0.6750
April	0.6630	0.5872	0.6300
May	0.6472	0.5502	0.5958
June	0.6234	0.5709	0.6047
July	0.6594	0.5918	0.6268
August	0.6200	0.5846	0.6005
September	0.6151	0.5940	0.6058
October	0.6380	0.5982	0.6180
November	0.6571	0.6322	0.6443
December	0.6598	0.6308	0.6465