2023 HKD to ZAR Historical Review

YEARLY HIGH

2.5249 ZAR

YEARLY LOW

2.1444 ZAR

YEARLY AVERAGE

2.3567 ZAR

2023 HKD to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the HKD to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on May 25, valuing the pair at 2.5249. Conversely, the yearly low was recorded on January 12, dropping to 2.1444.

This high-to-low spread represents a total annual volatility of 0.3805 ZAR. From a start-to-finish perspective, comparing the January average rate of 2.1837 to the December average rate of 2.3813, the exchange rate registered a net change of 9.05% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 2.5249 was up 7.67% compared to the 2022 peak of 2.3451, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 25,000 HKD based on timing:

Yearly Peak High 63,123 ZAR

2022 Average 52,278 ZAR

Yearly Trough Low 53,611 ZAR

Transaction Impact: A difference of 9,511.57 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

2.4627

2.1583

JanuMarcMayJulySeptNove

HKD 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 2.3233, compared to 2.3901 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0668 points.

H1 Avg (Jan–Jun) 2.3233

H2 Avg (Jul–Dec) 2.3901

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 0.1949 ZAR (High: 2.4423 / Low: 2.2475). On the other end, September was the most stable month, with a tight range of 0.0582 ZAR (High: 2.4551 / Low: 2.3969).

July Spread (Volatile) ±0.1949

September Spread (Stable) ±0.0582

Growth Streaks & Declines

Trends

Between July and October, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.0621 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0621

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 2.4373) against the same month in 2022 (average: 2.0251), the exchange rate shifted by +0.4122 (+20.35%).

2023 Avg (May) 2.4373

2022 Avg (May) 2.0251

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.2199	2.1444	2.1837
February	2.3475	2.1744	2.2844
March	2.3928	2.2654	2.3278
April	2.3579	2.2667	2.3142
May	2.5249	2.3314	2.4373
June	2.5059	2.3256	2.3923
July	2.4423	2.2475	2.3301
August	2.4499	2.3451	2.3999
September	2.4551	2.3969	2.4223
October	2.4918	2.3835	2.4322
November	2.4222	2.3272	2.3746
December	2.4444	2.3382	2.3813