2021 TOP to RWF Historical Review

YEARLY HIGH

457.5583 RWF

YEARLY LOW

426.5320 RWF

YEARLY AVERAGE

441.9408 RWF

2021 TOP to RWF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2021

During 2021, the TOP to RWF exchange rate experienced significant fluctuation. The market reached its absolute peak on November 21, valuing the pair at 457.5583. Conversely, the yearly low was recorded on January 29, dropping to 426.5320.

This high-to-low spread represents a total annual volatility of 31.0263 RWF. From a start-to-finish perspective, comparing the January average rate of 433.1477 to the December average rate of 447.5693, the exchange rate registered a net change of 3.33% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2021 high of 457.5583 was up 5.02% compared to the 2020 peak of 435.6973, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 2,287,792 RWF

2020 Average 2,079,759 RWF

Yearly Trough Low 2,132,660 RWF

Transaction Impact: A difference of 155,131.52 RWF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2021.

451.8605

429.3101

JanuMarcMayJulySeptNove

TOP to RWF 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 436.9228, compared to 446.9588 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 10.0360 points.

H1 Avg (Jan–Jun) 436.9228

H2 Avg (Jul–Dec) 446.9588

Volatility Range Comparison

Volatility

The most volatile month in 2021 was December, with a trading range of 18.0984 RWF (High: 455.4219 / Low: 437.3235). On the other end, August was the most stable month, with a tight range of 8.6542 RWF (High: 448.9456 / Low: 440.2914).

December Spread (Volatile) ±18.0984

August Spread (Stable) ±8.6542

Growth Streaks & Declines

Trends

Between February and June, 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 November and December, when the average rate fell by 2.4121 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -2.4121

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2021: 449.9813) against the same month in 2020 (average: 427.5315), the exchange rate shifted by +22.4498 (+5.25%).

2021 Avg (November) 449.9813

2020 Avg (November) 427.5315

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	438.6880	426.5320	433.1477
February	437.0533	427.1736	431.1893
March	438.8931	428.0076	432.8959
April	441.7255	427.7020	435.9139
May	447.0583	436.0960	442.1476
June	451.2608	438.3832	446.2423
July	447.5551	438.0157	444.4341
August	448.9456	440.2914	445.1768
September	450.8463	441.5123	447.0243
October	454.2847	439.3305	447.5671
November	457.5583	442.4180	449.9813
December	455.4219	437.3235	447.5693

૨૦૨૫ TOP થી RWF ઐતિહાસિક સમીક્ષા