2018 TOP to ZAR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2018.
2018 TOP to ZAR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2018
During 2018, the TOP to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on September 5, valuing the pair at 6.6719. Conversely, the yearly low was recorded on February 25, dropping to 5.2187.
This high-to-low spread represents a total annual volatility of 1.4532 ZAR. From a start-to-finish perspective, comparing the January average rate of 5.4249 to the December average rate of 6.2761, the exchange rate registered a net change of 15.69% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2018 high of 6.6719 was up 4.47% compared to the 2017 peak of 6.3861, 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 2018.
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 5.4812, compared to 6.1619 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.6807 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2018 was August, with a trading range of 0.6409 ZAR (High: 6.3637 / Low: 5.7227). On the other end, March was the most stable month, with a tight range of 0.2079 ZAR (High: 5.4385 / Low: 5.2306).
Growth Streaks & Declines
TrendsBetween March and June, 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 October and November, when the average rate fell by 0.1681 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (September 2018: 6.3785) against the same month in 2017 (average: 5.9475), the exchange rate shifted by +0.4310 (+7.25%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 5.5125 | 5.2882 | 5.4249 |
| February | 5.5074 | 5.2187 | 5.3389 |
| March | 5.4385 | 5.2306 | 5.3272 |
| April | 5.5796 | 5.3088 | 5.4427 |
| May | 5.6783 | 5.4176 | 5.5342 |
| June | 6.0328 | 5.5242 | 5.8193 |
| July | 5.9989 | 5.6791 | 5.7831 |
| August | 6.3637 | 5.7227 | 6.0825 |
| September | 6.6719 | 6.1096 | 6.3785 |
| October | 6.4485 | 6.1495 | 6.3096 |
| November | 6.3086 | 5.9695 | 6.1415 |
| December | 6.4780 | 5.9817 | 6.2761 |