2019 TOP to ZAR Historical Review

YEARLY HIGH

6.6852 ZAR

YEARLY LOW

5.8982 ZAR

YEARLY AVERAGE

6.3061 ZAR

2019 TOP to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2019

During 2019, the TOP to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on August 19, valuing the pair at 6.6852. Conversely, the yearly low was recorded on January 31, dropping to 5.8982.

This high-to-low spread represents a total annual volatility of 0.7870 ZAR. From a start-to-finish perspective, comparing the January average rate of 6.1012 to the December average rate of 6.2574, the exchange rate registered a net change of 2.56% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2019 high of 6.6852 was up 0.20% compared to the 2018 peak of 6.6719, 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 33,426 ZAR

2018 Average 29,121 ZAR

Yearly Trough Low 29,491 ZAR

Transaction Impact: A difference of 3,935.24 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2019.

6.6096

6.0550

JanuMarcMayJulySeptNove

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)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 6.2452, compared to 6.3670 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1218 points.

H1 Avg (Jan–Jun) 6.2452

H2 Avg (Jul–Dec) 6.3670

Volatility Range Comparison

Volatility

The most volatile month in 2019 was January, with a trading range of 0.5233 ZAR (High: 6.4215 / Low: 5.8982). On the other end, July was the most stable month, with a tight range of 0.1590 ZAR (High: 6.2612 / Low: 6.1022).

January Spread (Volatile) ±0.5233

July Spread (Stable) ±0.1590

Growth Streaks & Declines

Trends

Between January and March, 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 June and July, when the average rate fell by 0.1942 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.1942

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2019: 6.5634) against the same month in 2018 (average: 6.0825), the exchange rate shifted by +0.4809 (+7.91%).

2019 Avg (August) 6.5634

2018 Avg (August) 6.0825

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	6.4215	5.8982	6.1012
February	6.2514	5.9335	6.1161
March	6.4780	6.2638	6.3618
April	6.4307	6.1334	6.2340
May	6.4373	6.1960	6.2903
June	6.5682	6.1848	6.3677
July	6.2612	6.1022	6.1734
August	6.6852	6.3623	6.5634
September	6.5915	6.3038	6.4149
October	6.5827	6.2739	6.4064
November	6.4865	6.3132	6.3863
December	6.4167	6.1310	6.2574