2023 INR to ZAR Historical Review

YEARLY HIGH

0.2391 ZAR

YEARLY LOW

0.2043 ZAR

YEARLY AVERAGE

0.2234 ZAR

2023 INR to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the INR to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on May 25, valuing the pair at 0.2391. Conversely, the yearly low was recorded on January 4, dropping to 0.2043.

This high-to-low spread represents a total annual volatility of 0.0348 ZAR. From a start-to-finish perspective, comparing the January average rate of 0.2090 to the December average rate of 0.2234, the exchange rate registered a net change of 6.91% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.2391 was up 7.34% compared to the 2022 peak of 0.2227, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 250,000 INR based on timing:

Yearly Peak High 59,773 ZAR

2022 Average 52,039 ZAR

Yearly Trough Low 51,065 ZAR

Transaction Impact: A difference of 8,707.84 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.2343

0.2067

JanuMarcMayJulySeptNove

INR 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 0.2216, compared to 0.2252 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0036 points.

H1 Avg (Jan–Jun) 0.2216

H2 Avg (Jul–Dec) 0.2252

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 0.0171 ZAR (High: 0.2313 / Low: 0.2142). On the other end, September was the most stable month, with a tight range of 0.0056 ZAR (High: 0.2313 / Low: 0.2257).

July Spread (Volatile) ±0.0171

September Spread (Stable) ±0.0056

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 0.0064 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0064

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 0.2320) against the same month in 2022 (average: 0.2056), the exchange rate shifted by +0.0264 (+12.86%).

2023 Avg (May) 0.2320

2022 Avg (May) 0.2056

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.2132	0.2043	0.2090
February	0.2228	0.2082	0.2169
March	0.2276	0.2165	0.2222
April	0.2257	0.2165	0.2217
May	0.2391	0.2239	0.2320
June	0.2385	0.2218	0.2280
July	0.2313	0.2142	0.2216
August	0.2305	0.2221	0.2267
September	0.2313	0.2257	0.2284
October	0.2345	0.2240	0.2287
November	0.2265	0.2187	0.2226
December	0.2290	0.2197	0.2234