2022 TOP to GHS Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2022.
2022 TOP to GHS Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2022
During 2022, the TOP to GHS exchange rate experienced significant fluctuation. The market reached its absolute peak on November 28, valuing the pair at 6.1947. Conversely, the yearly low was recorded on January 9, dropping to 2.6948.
This high-to-low spread represents a total annual volatility of 3.4999 GHS. From a start-to-finish perspective, comparing the January average rate of 2.7317 to the December average rate of 4.7434, the exchange rate registered a net change of 73.64% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2022 high of 6.1947 was up 126.78% compared to the 2021 peak of 2.7316, 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 2022.
TOP to GHS 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 3.1362, compared to 4.5562 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 1.4200 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2022 was December, with a trading range of 2.4891 GHS (High: 6.0252 / Low: 3.5361). On the other end, June was the most stable month, with a tight range of 0.0707 GHS (High: 3.4492 / Low: 3.3784).
Growth Streaks & Declines
TrendsBetween May and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 6 straight months. Conversely, the sharpest month-over-month decline occurred between November and December, when the average rate fell by 1.2651 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2022: 6.0085) against the same month in 2021 (average: 2.7120), the exchange rate shifted by +3.2965 (+121.55%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 2.7706 | 2.6948 | 2.7317 |
| February | 2.9840 | 2.7753 | 2.8714 |
| March | 3.3658 | 2.9902 | 3.1920 |
| April | 3.3649 | 3.2571 | 3.3222 |
| May | 3.3988 | 3.2050 | 3.2919 |
| June | 3.4492 | 3.3784 | 3.4079 |
| July | 3.6276 | 3.4036 | 3.4678 |
| August | 4.2780 | 3.6262 | 3.9894 |
| September | 4.3055 | 4.1858 | 4.2406 |
| October | 5.8225 | 4.2553 | 4.8878 |
| November | 6.1947 | 5.6690 | 6.0085 |
| December | 6.0252 | 3.5361 | 4.7434 |