2023 TOP to GMD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 TOP to GMD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the TOP to GMD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 28.8913. Conversely, the yearly low was recorded on June 2, dropping to 25.0144.
This high-to-low spread represents a total annual volatility of 3.8769 GMD. From a start-to-finish perspective, comparing the January average rate of 26.6261 to the December average rate of 28.6628, the exchange rate registered a net change of 7.65% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 28.8913 was up 8.15% compared to the 2022 peak of 26.7130, 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 GMD 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 25.9406, compared to 26.8046 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.8640 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was September, with a trading range of 1.9800 GMD (High: 27.2275 / Low: 25.2475). On the other end, August was the most stable month, with a tight range of 0.3587 GMD (High: 25.6874 / Low: 25.3287).
Growth Streaks & Declines
TrendsBetween June and December, 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 April and May, when the average rate fell by 0.9423 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 28.6628) against the same month in 2022 (average: 26.4503), the exchange rate shifted by +2.2125 (+8.36%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 26.9281 | 26.2589 | 26.6261 |
| February | 26.6003 | 25.8286 | 26.1430 |
| March | 26.4396 | 25.7758 | 26.0272 |
| April | 26.5570 | 25.3658 | 26.2824 |
| May | 25.6283 | 25.0144 | 25.3401 |
| June | 25.4674 | 25.0144 | 25.2246 |
| July | 25.6895 | 25.1372 | 25.4007 |
| August | 25.6874 | 25.3287 | 25.4743 |
| September | 27.2275 | 25.2475 | 25.8521 |
| October | 27.5731 | 26.9420 | 27.3701 |
| November | 28.5529 | 27.0423 | 28.0675 |
| December | 28.8913 | 28.4866 | 28.6628 |