2023 BND to ZAR Historical Review

YEARLY HIGH

14.6691 ZAR

YEARLY LOW

12.5953 ZAR

YEARLY AVERAGE

13.7417 ZAR

2023 BND to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the BND to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on May 25, valuing the pair at 14.6691. Conversely, the yearly low was recorded on January 12, dropping to 12.5953.

This high-to-low spread represents a total annual volatility of 2.0738 ZAR. From a start-to-finish perspective, comparing the January average rate of 12.8707 to the December average rate of 13.9579, the exchange rate registered a net change of 8.45% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 14.6691 was up 12.72% compared to the 2022 peak of 13.0134, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 73,346 ZAR

2022 Average 59,353 ZAR

Yearly Trough Low 62,977 ZAR

Transaction Impact: A difference of 10,369.09 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

14.4040

12.7313

JanuMarcMayJulySeptNove

BND 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 13.6348, compared to 13.8485 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.2136 points.

H1 Avg (Jan–Jun) 13.6348

H2 Avg (Jul–Dec) 13.8485

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.9660 ZAR (High: 14.5269 / Low: 13.5609). On the other end, September was the most stable month, with a tight range of 0.3919 ZAR (High: 14.1251 / Low: 13.7333).

June Spread (Volatile) ±0.9660

September Spread (Stable) ±0.3919

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 0.3417 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.3417

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 14.2646) against the same month in 2022 (average: 11.5005), the exchange rate shifted by +2.7641 (+24.03%).

2023 Avg (May) 14.2646

2022 Avg (May) 11.5005

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	13.2551	12.5953	12.8707
February	13.6943	12.9855	13.4573
March	14.1843	13.3803	13.6372
April	13.9029	13.3720	13.6564
May	14.6691	13.7473	14.2646
June	14.5269	13.5609	13.9229
July	14.1446	13.2047	13.6483
August	14.1270	13.6090	13.9078
September	14.1251	13.7333	13.9222
October	14.2770	13.6551	13.9057
November	14.1050	13.3884	13.7489
December	14.1972	13.7214	13.9579