2023 TOP to AOA Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 TOP to AOA Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the TOP to AOA exchange rate experienced significant fluctuation. The market reached its absolute peak on December 27, valuing the pair at 356.7598. Conversely, the yearly low was recorded on March 8, dropping to 213.0858.
This high-to-low spread represents a total annual volatility of 143.6740 AOA. From a start-to-finish perspective, comparing the January average rate of 216.2735 to the December average rate of 353.6309, the exchange rate registered a net change of 63.51% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 356.7598 was up 46.36% compared to the 2022 peak of 243.7528, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 TOP based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
TOP to AOA 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 230.9947, compared to 348.7105 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 117.7158 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was June, with a trading range of 102.6223 AOA (High: 350.1723 / Low: 247.5500). On the other end, April was the most stable month, with a tight range of 2.3342 AOA (High: 216.6230 / Low: 214.2888).
Growth Streaks & Declines
TrendsBetween March and July, 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 July and August, when the average rate fell by 4.3037 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 353.6309) against the same month in 2022 (average: 215.0012), the exchange rate shifted by +138.6297 (+64.48%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 218.2804 | 213.9761 | 216.2735 |
| February | 218.1705 | 213.3109 | 216.0684 |
| March | 215.8996 | 213.0858 | 214.5005 |
| April | 216.6230 | 214.2888 | 215.6783 |
| May | 245.0556 | 215.6883 | 224.7207 |
| June | 350.1723 | 247.5500 | 298.7268 |
| July | 354.8677 | 347.9717 | 351.5588 |
| August | 351.6850 | 344.8087 | 347.2550 |
| September | 347.6260 | 345.0254 | 346.3178 |
| October | 347.6938 | 343.2718 | 345.3034 |
| November | 351.2023 | 345.0539 | 348.1973 |
| December | 356.7598 | 351.2287 | 353.6309 |