2023 TOP to MZN Historical Review

YEARLY HIGH

27.6447 MZN

YEARLY LOW

26.4791 MZN

YEARLY AVERAGE

27.0433 MZN

2023 TOP to MZN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the TOP to MZN exchange rate experienced significant fluctuation. The market reached its absolute peak on January 26, valuing the pair at 27.6447. Conversely, the yearly low was recorded on October 29, dropping to 26.4791.

This high-to-low spread represents a total annual volatility of 1.1656 MZN. From a start-to-finish perspective, comparing the January average rate of 27.4245 to the December average rate of 27.1836, the exchange rate registered a net change of -0.88% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 27.6447 was down 2.73% compared to the 2022 peak of 28.4198, 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 138,224 MZN

2022 Average 137,067 MZN

Yearly Trough Low 132,396 MZN

Transaction Impact: A difference of 5,828.06 MZN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

27.5029

26.5617

JanuMarcMayJulySeptNove

TOP to MZN 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 27.1942, compared to 26.8925 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.3017 points.

H1 Avg (Jan–Jun) 27.1942

H2 Avg (Jul–Dec) 26.8925

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 0.5841 MZN (High: 27.4990 / Low: 26.9149). On the other end, September was the most stable month, with a tight range of 0.1274 MZN (High: 26.7745 / Low: 26.6471).

July Spread (Volatile) ±0.5841

September Spread (Stable) ±0.1274

Growth Streaks & Declines

Trends

Between May and July, 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 July and August, when the average rate fell by 0.3135 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.3135

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 27.4245) against the same month in 2022 (average: 28.0570), the exchange rate shifted by -0.6325 (-2.25%).

2023 Avg (January) 27.4245

2022 Avg (January) 28.0570

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	27.6447	27.1308	27.4245
February	27.6390	27.0777	27.3428
March	27.2421	26.9095	27.0855
April	27.2742	26.9862	27.1421
May	27.2780	26.8308	27.0762
June	27.3364	26.8327	27.0941
July	27.4990	26.9149	27.1629
August	27.1297	26.6785	26.8494
September	26.7745	26.6471	26.7197
October	26.8167	26.4791	26.6401
November	27.0998	26.5642	26.7992
December	27.4174	26.9999	27.1836