2023 CVE to ZAR Historical Review

YEARLY HIGH

0.1924 ZAR

YEARLY LOW

0.1621 ZAR

YEARLY AVERAGE

0.1807 ZAR

2023 CVE to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the CVE to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on May 25, valuing the pair at 0.1924. Conversely, the yearly low was recorded on January 4, dropping to 0.1621.

This high-to-low spread represents a total annual volatility of 0.0304 ZAR. From a start-to-finish perspective, comparing the January average rate of 0.1666 to the December average rate of 0.1838, the exchange rate registered a net change of 10.30% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.1924 was up 13.36% compared to the 2022 peak of 0.1697, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 962 ZAR

2022 Average 779 ZAR

Yearly Trough Low 810 ZAR

Transaction Impact: A difference of 151.82 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.1900

0.1645

JanuMarcMayJulySeptNove

CVE 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 0.1783, compared to 0.1832 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0049 points.

H1 Avg (Jan–Jun) 0.1783

H2 Avg (Jul–Dec) 0.1832

Volatility Range Comparison

Volatility

The most volatile month in 2023 was November, with a trading range of 0.0133 ZAR (High: 0.1868 / Low: 0.1735). On the other end, September was the most stable month, with a tight range of 0.0070 ZAR (High: 0.1874 / Low: 0.1804).

November Spread (Volatile) ±0.0133

September Spread (Stable) ±0.0070

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 0.0042 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0042

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 0.1879) against the same month in 2022 (average: 0.1519), the exchange rate shifted by +0.0360 (+23.67%).

2023 Avg (May) 0.1879

2022 Avg (May) 0.1519

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.1714	0.1621	0.1666
February	0.1769	0.1681	0.1739
March	0.1837	0.1739	0.1773
April	0.1835	0.1752	0.1804
May	0.1924	0.1821	0.1879
June	0.1907	0.1777	0.1836
July	0.1883	0.1757	0.1825
August	0.1897	0.1812	0.1858
September	0.1874	0.1804	0.1837
October	0.1867	0.1779	0.1822
November	0.1868	0.1735	0.1813
December	0.1868	0.1774	0.1838