2023 TOP to PKR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 TOP to PKR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the TOP to PKR exchange rate experienced significant fluctuation. The market reached its absolute peak on September 5, valuing the pair at 129.0353. Conversely, the yearly low was recorded on January 4, dropping to 96.4465.
This high-to-low spread represents a total annual volatility of 32.5887 PKR. From a start-to-finish perspective, comparing the January average rate of 100.3586 to the December average rate of 120.0181, the exchange rate registered a net change of 19.59% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 129.0353 was up 26.03% compared to the 2022 peak of 102.3826, 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 PKR 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 115.9872, compared to 120.5973 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 4.6100 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was January, with a trading range of 19.3516 PKR (High: 115.7981 / Low: 96.4465). On the other end, December was the most stable month, with a tight range of 1.9418 PKR (High: 120.9540 / Low: 119.0122).
Growth Streaks & Declines
TrendsBetween January and June, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 7.9636 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (September 2023: 124.5080) against the same month in 2022 (average: 96.6807), the exchange rate shifted by +27.8273 (+28.78%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 115.7981 | 96.4465 | 100.3586 |
| February | 117.8862 | 108.3491 | 113.5907 |
| March | 120.7330 | 111.1327 | 118.7789 |
| April | 123.1179 | 118.2463 | 120.5374 |
| May | 126.3075 | 119.8442 | 121.1162 |
| June | 122.8560 | 119.7541 | 121.5415 |
| July | 122.5152 | 115.5991 | 119.9275 |
| August | 127.8055 | 119.6542 | 123.3884 |
| September | 129.0353 | 120.0765 | 124.5080 |
| October | 120.9709 | 114.4035 | 116.5444 |
| November | 121.2227 | 115.8744 | 119.1972 |
| December | 120.9540 | 119.0122 | 120.0181 |