2023 TOP to BIF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 TOP to BIF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the TOP to BIF exchange rate experienced significant fluctuation. The market reached its absolute peak on December 28, valuing the pair at 1226.0599. Conversely, the yearly low was recorded on March 18, dropping to 868.8562.
This high-to-low spread represents a total annual volatility of 357.2037 BIF. From a start-to-finish perspective, comparing the January average rate of 888.1481 to the December average rate of 1213.1806, the exchange rate registered a net change of 36.60% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 1226.0599 was up 34.04% compared to the 2022 peak of 914.7204, 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 BIF 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 958.7832, compared to 1195.2063 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 236.4230 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was May, with a trading range of 318.4115 BIF (High: 1198.0933 / Low: 879.6817). On the other end, September was the most stable month, with a tight range of 12.6081 BIF (High: 1192.0866 / Low: 1179.4785).
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 13.3370 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 1213.1806) against the same month in 2022 (average: 880.9304), the exchange rate shifted by +332.2502 (+37.72%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 896.3460 | 876.3840 | 888.1481 |
| February | 903.9113 | 876.7741 | 887.0830 |
| March | 886.9917 | 868.8562 | 880.2938 |
| April | 888.5622 | 872.1301 | 883.5783 |
| May | 1198.0933 | 879.6817 | 1013.7528 |
| June | 1211.7396 | 1184.5570 | 1199.8435 |
| July | 1216.8729 | 1185.6121 | 1205.0190 |
| August | 1205.3497 | 1182.7409 | 1191.6820 |
| September | 1192.0866 | 1179.4785 | 1186.0223 |
| October | 1191.7466 | 1175.9924 | 1183.9567 |
| November | 1207.1558 | 1172.4261 | 1191.3769 |
| December | 1226.0599 | 1203.2708 | 1213.1806 |