2014 TOP to ZAR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2014.
2014 TOP to ZAR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2014
During 2014, the TOP to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 29, valuing the pair at 6.0342. Conversely, the yearly low was recorded on November 26, dropping to 5.4904.
This high-to-low spread represents a total annual volatility of 0.5438 ZAR. From a start-to-finish perspective, comparing the January average rate of 5.8279 to the December average rate of 5.8562, the exchange rate registered a net change of 0.49% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2014 high of 6.0342 was up 4.20% compared to the 2013 peak of 5.7910, 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 2014.
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 5.7657, compared to 5.7284 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0373 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2014 was January, with a trading range of 0.3913 ZAR (High: 6.0342 / Low: 5.6429). On the other end, September was the most stable month, with a tight range of 0.1378 ZAR (High: 5.8282 / Low: 5.6904).
Growth Streaks & Declines
TrendsBetween 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 April and May, when the average rate fell by 0.1440 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2014: 5.8279) against the same month in 2013 (average: 5.0596), the exchange rate shifted by +0.7683 (+15.19%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 6.0342 | 5.6429 | 5.8279 |
| February | 5.9689 | 5.7419 | 5.8650 |
| March | 5.9719 | 5.7051 | 5.7889 |
| April | 5.8272 | 5.6680 | 5.7585 |
| May | 5.7062 | 5.5206 | 5.6145 |
| June | 5.8392 | 5.6562 | 5.7395 |
| July | 5.9538 | 5.6918 | 5.7861 |
| August | 5.8158 | 5.6018 | 5.7383 |
| September | 5.8282 | 5.6904 | 5.7642 |
| October | 5.8149 | 5.5083 | 5.6510 |
| November | 5.6749 | 5.4904 | 5.5744 |
| December | 5.9467 | 5.5742 | 5.8562 |