2021 TOP to KES Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2021.
2021 TOP to KES Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2021
During 2021, the TOP to KES exchange rate experienced significant fluctuation. The market reached its absolute peak on November 9, valuing the pair at 49.8224. Conversely, the yearly low was recorded on April 13, dropping to 46.7397.
This high-to-low spread represents a total annual volatility of 3.0826 KES. From a start-to-finish perspective, comparing the January average rate of 48.1887 to the December average rate of 49.4524, the exchange rate registered a net change of 2.62% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2021 high of 49.8224 was up 1.89% compared to the 2020 peak of 48.8990, 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 2021.
TOP to KES 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 47.9124, compared to 48.8944 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.9820 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2021 was May, with a trading range of 1.2079 KES (High: 48.2689 / Low: 47.0610). On the other end, July was the most stable month, with a tight range of 0.3282 KES (High: 48.0206 / Low: 47.6924).
Growth Streaks & Declines
TrendsBetween July and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.6678 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2021: 49.6048) against the same month in 2020 (average: 47.5147), the exchange rate shifted by +2.0901 (+4.40%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 48.4835 | 47.9057 | 48.1887 |
| February | 48.3137 | 47.5529 | 47.7779 |
| March | 48.5660 | 47.7116 | 48.1052 |
| April | 47.9299 | 46.7397 | 47.4374 |
| May | 48.2689 | 47.0610 | 47.7228 |
| June | 48.5945 | 47.7793 | 48.2422 |
| July | 48.0206 | 47.6924 | 47.9007 |
| August | 48.5948 | 47.9548 | 48.2845 |
| September | 49.1508 | 48.5465 | 48.9111 |
| October | 49.8217 | 48.6677 | 49.2128 |
| November | 49.8224 | 49.2214 | 49.6048 |
| December | 49.7436 | 49.2044 | 49.4524 |