2023 TOP to NZD Historical Review

YEARLY HIGH

0.7184 NZD

YEARLY LOW

0.6618 NZD

YEARLY AVERAGE

0.6896 NZD

2023 TOP to NZD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the TOP to NZD exchange rate experienced significant fluctuation. The market reached its absolute peak on October 25, valuing the pair at 0.7184. Conversely, the yearly low was recorded on January 22, dropping to 0.6618.

This high-to-low spread represents a total annual volatility of 0.0566 NZD. From a start-to-finish perspective, comparing the January average rate of 0.6702 to the December average rate of 0.6833, the exchange rate registered a net change of 1.95% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.7184 was down 2.39% compared to the 2022 peak of 0.7360, 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 3,592 NZD

2022 Average 3,382 NZD

Yearly Trough Low 3,309 NZD

Transaction Impact: A difference of 282.97 NZD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.7114

0.6665

JanuMarcMayJulySeptNove

TOP to NZD 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 0.6822, compared to 0.6971 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0149 points.

H1 Avg (Jan–Jun) 0.6822

H2 Avg (Jul–Dec) 0.6971

Volatility Range Comparison

Volatility

The most volatile month in 2023 was February, with a trading range of 0.0283 NZD (High: 0.6910 / Low: 0.6628). On the other end, September was the most stable month, with a tight range of 0.0137 NZD (High: 0.7118 / Low: 0.6981).

February Spread (Volatile) ±0.0283

September Spread (Stable) ±0.0137

Growth Streaks & Declines

Trends

Between January and April, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between November and December, when the average rate fell by 0.0163 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0163

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (October 2023: 0.7077) against the same month in 2022 (average: 0.7220), the exchange rate shifted by -0.0143 (-1.98%).

2023 Avg (October) 0.7077

2022 Avg (October) 0.7220

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.6854	0.6618	0.6702
February	0.6910	0.6628	0.6813
March	0.6934	0.6755	0.6831
April	0.6912	0.6739	0.6843
May	0.6971	0.6706	0.6830
June	0.7001	0.6842	0.6912
July	0.6923	0.6651	0.6844
August	0.7094	0.6919	0.7022
September	0.7118	0.6981	0.7055
October	0.7184	0.6935	0.7077
November	0.7099	0.6879	0.6996
December	0.6921	0.6753	0.6833