2023 TOP to BRL Historical Review

YEARLY HIGH

2.3382 BRL

YEARLY LOW

2.0051 BRL

YEARLY AVERAGE

2.1149 BRL

2023 TOP to BRL Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the TOP to BRL exchange rate experienced significant fluctuation. The market reached its absolute peak on January 3, valuing the pair at 2.3382. Conversely, the yearly low was recorded on July 31, dropping to 2.0051.

This high-to-low spread represents a total annual volatility of 0.3331 BRL. From a start-to-finish perspective, comparing the January average rate of 2.2270 to the December average rate of 2.0839, the exchange rate registered a net change of -6.42% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 2.3382 was down 6.72% compared to the 2022 peak of 2.5066, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 11,691 BRL

2022 Average 11,078 BRL

Yearly Trough Low 10,026 BRL

Transaction Impact: A difference of 1,665.46 BRL purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

2.2453

2.0253

JanuMarcMayJulySeptNove

TOP to BRL 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 2.1585, compared to 2.0713 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0872 points.

H1 Avg (Jan–Jun) 2.1585

H2 Avg (Jul–Dec) 2.0713

Volatility Range Comparison

Volatility

The most volatile month in 2023 was January, with a trading range of 0.1499 BRL (High: 2.3382 / Low: 2.1883). On the other end, December was the most stable month, with a tight range of 0.0434 BRL (High: 2.1027 / Low: 2.0593).

January Spread (Volatile) ±0.1499

December Spread (Stable) ±0.0434

Growth Streaks & Declines

Trends

Between July and October, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.0784 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0784

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 2.2270) against the same month in 2022 (average: 2.4270), the exchange rate shifted by -0.2001 (-8.24%).

2023 Avg (January) 2.2270

2022 Avg (January) 2.4270

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.3382	2.1883	2.2270
February	2.2642	2.1797	2.2161
March	2.2514	2.1540	2.2095
April	2.1651	2.0855	2.1311
May	2.1366	2.0713	2.1096
June	2.1057	2.0206	2.0577
July	2.0909	2.0051	2.0436
August	2.0942	2.0304	2.0637
September	2.1089	2.0301	2.0684
October	2.1602	2.0701	2.1118
November	2.0883	2.0297	2.0561
December	2.1027	2.0593	2.0839