2023 MZN to TOP Historical Review

YEARLY HIGH

0.0378 TOP

YEARLY LOW

0.0362 TOP

YEARLY AVERAGE

0.0370 TOP

2023 MZN to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MZN to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on October 29, valuing the pair at 0.0378. Conversely, the yearly low was recorded on January 26, dropping to 0.0362.

This high-to-low spread represents a total annual volatility of 0.0016 TOP. From a start-to-finish perspective, comparing the January average rate of 0.0365 to the December average rate of 0.0368, the exchange rate registered a net change of 0.89% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0378 was down 1.80% compared to the 2022 peak of 0.0385, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 189 TOP

2022 Average 182 TOP

Yearly Trough Low 181 TOP

Transaction Impact: A difference of 7.96 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0376

0.0364

JanuMarcMayJulySeptNove

MZN to TOP 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 0.0368, compared to 0.0372 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0004 points.

H1 Avg (Jan–Jun) 0.0368

H2 Avg (Jul–Dec) 0.0372

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 0.0008 TOP (High: 0.0372 / Low: 0.0364). On the other end, September was the most stable month, with a tight range of 0.0002 TOP (High: 0.0375 / Low: 0.0373).

July Spread (Volatile) ±0.0008

September Spread (Stable) ±0.0002

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 November and December, when the average rate fell by 0.0005 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0005

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (October 2023: 0.0375) against the same month in 2022 (average: 0.0381), the exchange rate shifted by -0.0006 (-1.53%).

2023 Avg (October) 0.0375

2022 Avg (October) 0.0381

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0369	0.0362	0.0365
February	0.0369	0.0362	0.0366
March	0.0372	0.0367	0.0369
April	0.0371	0.0367	0.0368
May	0.0373	0.0367	0.0369
June	0.0373	0.0366	0.0369
July	0.0372	0.0364	0.0368
August	0.0375	0.0369	0.0372
September	0.0375	0.0373	0.0374
October	0.0378	0.0373	0.0375
November	0.0376	0.0369	0.0373
December	0.0370	0.0365	0.0368