2024 TOP to GHS Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 TOP to GHS Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the TOP to GHS exchange rate experienced significant fluctuation. The market reached its absolute peak on November 10, valuing the pair at 6.9135. Conversely, the yearly low was recorded on January 18, dropping to 5.0684.
This high-to-low spread represents a total annual volatility of 1.8451 GHS. From a start-to-finish perspective, comparing the January average rate of 5.1137 to the December average rate of 6.1737, the exchange rate registered a net change of 20.73% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 6.9135 was up 26.03% compared to the 2023 peak of 5.4856, 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 2024.
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 5.6422, compared to 6.5793 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.9371 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was May, with a trading range of 0.5318 GHS (High: 6.2673 / Low: 5.7356). On the other end, July was the most stable month, with a tight range of 0.0764 GHS (High: 6.5538 / Low: 6.4774).
Growth Streaks & Declines
TrendsBetween January and October, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 9 straight months. Conversely, the sharpest month-over-month decline occurred between November and December, when the average rate fell by 0.5345 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2024: 6.7082) against the same month in 2023 (average: 5.0107), the exchange rate shifted by +1.6975 (+33.88%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 5.2220 | 5.0684 | 5.1137 |
| February | 5.3370 | 5.2038 | 5.2627 |
| March | 5.5819 | 5.3344 | 5.4622 |
| April | 5.7373 | 5.5561 | 5.6376 |
| May | 6.2673 | 5.7356 | 6.0000 |
| June | 6.4601 | 6.2416 | 6.3769 |
| July | 6.5538 | 6.4774 | 6.5199 |
| August | 6.7116 | 6.4806 | 6.5994 |
| September | 6.7580 | 6.6525 | 6.6965 |
| October | 6.8477 | 6.7416 | 6.7782 |
| November | 6.9135 | 6.3986 | 6.7082 |
| December | 6.4135 | 6.1145 | 6.1737 |