2023 TOP to ARS Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 TOP to ARS Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the TOP to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 347.8966. Conversely, the yearly low was recorded on January 1, dropping to 75.4842.
This high-to-low spread represents a total annual volatility of 272.4124 ARS. From a start-to-finish perspective, comparing the January average rate of 78.1520 to the December average rate of 269.2597, the exchange rate registered a net change of 244.53% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 347.8966 was up 359.83% compared to the 2022 peak of 75.6582, 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 ARS 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 90.0971, compared to 159.6752 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 69.5781 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was December, with a trading range of 194.9472 ARS (High: 347.8966 / Low: 152.9494). On the other end, September was the most stable month, with a tight range of 1.0687 ARS (High: 146.8071 / Low: 145.7383).
Growth Streaks & Declines
TrendsBetween January and September, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 8 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 0.3273 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 269.2597) against the same month in 2022 (average: 73.4247), the exchange rate shifted by +195.8350 (+266.72%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 80.8071 | 75.4842 | 78.1520 |
| February | 83.5340 | 80.8686 | 82.0508 |
| March | 88.6522 | 83.7706 | 85.8752 |
| April | 93.7615 | 88.6522 | 91.4438 |
| May | 100.5558 | 94.0928 | 97.8162 |
| June | 108.6211 | 100.8499 | 105.2448 |
| July | 116.7936 | 107.6220 | 113.1550 |
| August | 147.2189 | 116.7442 | 135.0932 |
| September | 146.8071 | 145.7383 | 146.3300 |
| October | 147.0976 | 145.0320 | 146.0027 |
| November | 152.8628 | 145.0065 | 148.2107 |
| December | 347.8966 | 152.9494 | 269.2597 |