2023 MXN to ZAR Historical Review

YEARLY HIGH

1.1189 ZAR

YEARLY LOW

0.8708 ZAR

YEARLY AVERAGE

1.0424 ZAR

2023 MXN to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MXN to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on August 16, valuing the pair at 1.1189. Conversely, the yearly low was recorded on January 4, dropping to 0.8708.

This high-to-low spread represents a total annual volatility of 0.2481 ZAR. From a start-to-finish perspective, comparing the January average rate of 0.9006 to the December average rate of 1.0833, the exchange rate registered a net change of 20.28% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 1.1189 was up 19.58% compared to the 2022 peak of 0.9357, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 50,000 MXN based on timing:

Yearly Peak High 55,946 ZAR

2022 Average 40,758 ZAR

Yearly Trough Low 43,540 ZAR

Transaction Impact: A difference of 12,406.88 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

1.1263

0.8801

JanuMarcMayJulySeptNove

MXN 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 1.0045, compared to 1.0802 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0757 points.

H1 Avg (Jan–Jun) 1.0045

H2 Avg (Jul–Dec) 1.0802

Volatility Range Comparison

Volatility

The most volatile month in 2023 was May, with a trading range of 0.0984 ZAR (High: 1.1172 / Low: 1.0188). On the other end, September was the most stable month, with a tight range of 0.0343 ZAR (High: 1.1138 / Low: 1.0794).

May Spread (Volatile) ±0.0984

September Spread (Stable) ±0.0343

Growth Streaks & Declines

Trends

Between January and June, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 0.0442 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0442

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2023: 1.1058) against the same month in 2022 (average: 0.8302), the exchange rate shifted by +0.2756 (+33.20%).

2023 Avg (August) 1.1058

2022 Avg (August) 0.8302

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.9265	0.8708	0.9006
February	1.0021	0.9157	0.9642
March	1.0330	0.9617	0.9928
April	1.0201	0.9840	1.0054
May	1.1172	1.0188	1.0776
June	1.1181	1.0642	1.0864
July	1.1149	1.0362	1.0765
August	1.1189	1.0760	1.1058
September	1.1138	1.0794	1.0966
October	1.0873	1.0326	1.0523
November	1.0980	1.0411	1.0670
December	1.1036	1.0643	1.0833