2023 TOP to INR Historical Review

YEARLY HIGH

35.7120 INR

YEARLY LOW

34.5167 INR

YEARLY AVERAGE

34.9600 INR

2023 TOP to INR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the TOP to INR exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 35.7120. Conversely, the yearly low was recorded on October 23, dropping to 34.5167.

This high-to-low spread represents a total annual volatility of 1.1953 INR. From a start-to-finish perspective, comparing the January average rate of 35.0824 to the December average rate of 35.4255, the exchange rate registered a net change of 0.98% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 35.7120 was up 0.60% compared to the 2022 peak of 35.4984, 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 178,560 INR

2022 Average 168,584 INR

Yearly Trough Low 172,584 INR

Transaction Impact: A difference of 5,976.40 INR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

35.4964

34.6454

JanuMarcMayJulySeptNove

TOP to INR 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 34.9793, compared to 34.9406 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0386 points.

H1 Avg (Jan–Jun) 34.9793

H2 Avg (Jul–Dec) 34.9406

Volatility Range Comparison

Volatility

The most volatile month in 2023 was November, with a trading range of 0.7440 INR (High: 35.3539 / Low: 34.6099). On the other end, September was the most stable month, with a tight range of 0.2450 INR (High: 34.8662 / Low: 34.6212).

November Spread (Volatile) ±0.7440

September Spread (Stable) ±0.2450

Growth Streaks & Declines

Trends

Between October and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 0.4874 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.4874

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 35.4255) against the same month in 2022 (average: 35.1345), the exchange rate shifted by +0.2910 (+0.83%).

2023 Avg (December) 35.4255

2022 Avg (December) 35.1345

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	35.3438	34.7678	35.0824
February	35.6805	34.9965	35.3555
March	35.1842	34.5169	34.8681
April	35.0488	34.5306	34.8246
May	35.2221	34.5857	34.8972
June	35.0616	34.5494	34.8478
July	35.3601	34.6544	35.0036
August	35.1225	34.5195	34.8322
September	34.8662	34.6212	34.7310
October	34.9243	34.5167	34.7163
November	35.3539	34.6099	34.9352
December	35.7120	35.1983	35.4255