2023 BGN to ZAR Historical Review

YEARLY HIGH

10.8488 ZAR

YEARLY LOW

9.1634 ZAR

YEARLY AVERAGE

10.2050 ZAR

2023 BGN to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the BGN to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on May 25, valuing the pair at 10.8488. Conversely, the yearly low was recorded on January 4, dropping to 9.1634.

This high-to-low spread represents a total annual volatility of 1.6854 ZAR. From a start-to-finish perspective, comparing the January average rate of 9.4160 to the December average rate of 10.3821, the exchange rate registered a net change of 10.26% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 10.8488 was up 13.25% compared to the 2022 peak of 9.5792, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 BGN based on timing:

Yearly Peak High 54,244 ZAR

2022 Average 43,995 ZAR

Yearly Trough Low 45,817 ZAR

Transaction Impact: A difference of 8,427.19 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

10.7299

9.2966

JanuMarcMayJulySeptNove

BGN to ZAR 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 10.0692, compared to 10.3408 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.2715 points.

H1 Avg (Jan–Jun) 10.0692

H2 Avg (Jul–Dec) 10.3408

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 0.7942 ZAR (High: 10.7145 / Low: 9.9202). On the other end, December was the most stable month, with a tight range of 0.3549 ZAR (High: 10.5772 / Low: 10.2223).

July Spread (Volatile) ±0.7942

December Spread (Stable) ±0.3549

Growth Streaks & Declines

Trends

Between January and May, 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 May and June, when the average rate fell by 0.2237 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.2237

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 10.6105) against the same month in 2022 (average: 8.5913), the exchange rate shifted by +2.0191 (+23.50%).

2023 Avg (May) 10.6105

2022 Avg (May) 8.5913

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	9.6649	9.1634	9.4160
February	9.9957	9.4963	9.8037
March	10.2931	9.8612	10.0055
April	10.3640	9.9028	10.1929
May	10.8488	10.2988	10.6105
June	10.8001	10.1439	10.3867
July	10.7145	9.9202	10.2977
August	10.6768	10.2703	10.4762
September	10.5662	10.1723	10.3537
October	10.5241	10.0867	10.2812
November	10.5223	9.9883	10.2538
December	10.5772	10.2223	10.3821