2023 SGD to ZAR Historical Review

YEARLY HIGH

14.6022 ZAR

YEARLY LOW

12.5861 ZAR

YEARLY AVERAGE

13.7375 ZAR

2023 SGD to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the SGD to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on May 25, valuing the pair at 14.6022. Conversely, the yearly low was recorded on January 4, dropping to 12.5861.

This high-to-low spread represents a total annual volatility of 2.0161 ZAR. From a start-to-finish perspective, comparing the January average rate of 12.8928 to the December average rate of 13.9677, the exchange rate registered a net change of 8.34% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 14.6022 was up 12.27% compared to the 2022 peak of 13.0067, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 73,011 ZAR

2022 Average 59,360 ZAR

Yearly Trough Low 62,930 ZAR

Transaction Impact: A difference of 10,080.36 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

14.3891

12.7567

JanuMarcMayJulySeptNove

SGD 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 13.6284, compared to 13.8465 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.2181 points.

H1 Avg (Jan–Jun) 13.6284

H2 Avg (Jul–Dec) 13.8465

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 1.0069 ZAR (High: 14.5668 / Low: 13.5599). On the other end, September was the most stable month, with a tight range of 0.3894 ZAR (High: 14.1139 / Low: 13.7245).

June Spread (Volatile) ±1.0069

September Spread (Stable) ±0.3894

Growth Streaks & Declines

Trends

Between January and May, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between May and June, when the average rate fell by 0.3365 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.3365

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 14.2531) against the same month in 2022 (average: 11.5028), the exchange rate shifted by +2.7503 (+23.91%).

2023 Avg (May) 14.2531

2022 Avg (May) 11.5028

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	13.2419	12.5861	12.8928
February	13.6730	13.0376	13.4450
March	14.0019	13.3708	13.6254
April	13.8937	13.3641	13.6378
May	14.6022	13.7617	14.2531
June	14.5668	13.5599	13.9166
July	14.1624	13.2196	13.6430
August	14.1040	13.6723	13.9026
September	14.1139	13.7245	13.9117
October	14.2714	13.6183	13.9037
November	14.1040	13.4674	13.7503
December	14.1987	13.7515	13.9677