2011 TOP to ZAR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2011.
2011 TOP to ZAR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2011
During 2011, the TOP to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on November 23, valuing the pair at 4.9625. Conversely, the yearly low was recorded on January 3, dropping to 3.5399.
This high-to-low spread represents a total annual volatility of 1.4226 ZAR. From a start-to-finish perspective, comparing the January average rate of 3.7244 to the December average rate of 4.7139, the exchange rate registered a net change of 26.57% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2011 high of 4.9625 was up 21.81% compared to the 2010 peak of 4.0741, 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 2011.
TOP to ZAR 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 3.7974, compared to 4.4933 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.6959 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2011 was September, with a trading range of 0.6311 ZAR (High: 4.8919 / Low: 4.2608). On the other end, June was the most stable month, with a tight range of 0.1366 ZAR (High: 3.9879 / Low: 3.8514).
Growth Streaks & Declines
TrendsBetween April and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 7 straight months. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 0.1495 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2011: 4.7642) against the same month in 2010 (average: 3.7414), the exchange rate shifted by +1.0228 (+27.34%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 3.8762 | 3.5399 | 3.7244 |
| February | 3.9432 | 3.7563 | 3.8753 |
| March | 3.8043 | 3.6515 | 3.7258 |
| April | 3.7937 | 3.5682 | 3.6714 |
| May | 3.9952 | 3.7023 | 3.8848 |
| June | 3.9879 | 3.8514 | 3.9026 |
| July | 4.1537 | 3.9044 | 4.0261 |
| August | 4.4686 | 4.1588 | 4.3298 |
| September | 4.8919 | 4.2608 | 4.4879 |
| October | 4.8219 | 4.4699 | 4.6378 |
| November | 4.9625 | 4.6628 | 4.7642 |
| December | 4.9089 | 4.6137 | 4.7139 |