2023 PEN to ZAR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 PEN to ZAR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the PEN to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on May 31, valuing the pair at 5.3718. Conversely, the yearly low was recorded on January 26, dropping to 4.4015.
This high-to-low spread represents a total annual volatility of 0.9703 ZAR. From a start-to-finish perspective, comparing the January average rate of 4.4668 to the December average rate of 4.9776, the exchange rate registered a net change of 11.44% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 5.3718 was up 15.42% compared to the 2022 peak of 4.6543, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 PEN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
PEN to ZAR Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 4.8559, compared to 5.0160 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1602 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was May, with a trading range of 0.4388 ZAR (High: 5.3718 / Low: 4.9330). On the other end, January was the most stable month, with a tight range of 0.1394 ZAR (High: 4.5408 / Low: 4.4015).
Growth Streaks & Declines
TrendsBetween January and March, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 0.1353 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (May 2023: 5.1858) against the same month in 2022 (average: 4.2347), the exchange rate shifted by +0.9511 (+22.46%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 4.5408 | 4.4015 | 4.4668 |
| February | 4.8456 | 4.4324 | 4.6714 |
| March | 5.0270 | 4.7286 | 4.8372 |
| April | 4.9706 | 4.7286 | 4.8353 |
| May | 5.3718 | 4.9330 | 5.1858 |
| June | 5.3446 | 4.9996 | 5.1388 |
| July | 5.2850 | 4.8850 | 5.0618 |
| August | 5.1766 | 4.9659 | 5.0881 |
| September | 5.1998 | 4.9824 | 5.0936 |
| October | 5.1416 | 4.8632 | 4.9583 |
| November | 5.0580 | 4.7661 | 4.9168 |
| December | 5.0951 | 4.8472 | 4.9776 |