2023 TOP to RSD Historical Review

YEARLY HIGH

47.5989 RSD

YEARLY LOW

44.3475 RSD

YEARLY AVERAGE

45.9000 RSD

2023 TOP to RSD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the TOP to RSD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 5, valuing the pair at 47.5989. Conversely, the yearly low was recorded on July 14, dropping to 44.3475.

This high-to-low spread represents a total annual volatility of 3.2514 RSD. From a start-to-finish perspective, comparing the January average rate of 46.7096 to the December average rate of 45.6765, the exchange rate registered a net change of -2.21% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 47.5989 was down 5.74% compared to the 2022 peak of 50.4949, 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 237,994 RSD

2022 Average 239,501 RSD

Yearly Trough Low 221,737 RSD

Transaction Impact: A difference of 16,256.87 RSD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

47.0880

44.9737

JanuMarcMayJulySeptNove

TOP to RSD 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 46.1785, compared to 45.6216 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.5569 points.

H1 Avg (Jan–Jun) 46.1785

H2 Avg (Jul–Dec) 45.6216

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 1.5410 RSD (High: 45.8885 / Low: 44.3475). On the other end, August was the most stable month, with a tight range of 0.5564 RSD (High: 45.5008 / Low: 44.9444).

July Spread (Volatile) ±1.5410

August Spread (Stable) ±0.5564

Growth Streaks & Declines

Trends

Between July and October, 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 March and April, when the average rate fell by 0.9891 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.9891

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 46.7096) against the same month in 2022 (average: 45.6370), the exchange rate shifted by +1.0726 (+2.35%).

2023 Avg (January) 46.7096

2022 Avg (January) 45.6370

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	47.5989	46.3308	46.7096
February	47.2835	46.0349	46.9118
March	47.1230	45.6947	46.4178
April	46.0571	44.6677	45.4287
May	46.2772	44.9655	45.7511
June	46.3095	45.3332	45.8517
July	45.8885	44.3475	45.1499
August	45.5008	44.9444	45.2003
September	46.6835	45.5451	45.9425
October	46.8392	45.6489	46.2971
November	46.0168	45.0401	45.4633
December	46.1485	45.1777	45.6765