2022 TOP to ZAR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2022.
2022 TOP to ZAR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2022
During 2022, the TOP to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on November 3, valuing the pair at 7.6179. Conversely, the yearly low was recorded on April 12, dropping to 6.4148.
This high-to-low spread represents a total annual volatility of 1.2031 ZAR. From a start-to-finish perspective, comparing the January average rate of 6.8121 to the December average rate of 7.3685, the exchange rate registered a net change of 8.17% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2022 high of 7.6179 was up 6.60% compared to the 2021 peak of 7.1463, 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 2022.
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 6.7346, compared to 7.2990 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.5644 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2022 was April, with a trading range of 0.5201 ZAR (High: 6.9349 / Low: 6.4148). On the other end, February was the most stable month, with a tight range of 0.2150 ZAR (High: 6.8371 / Low: 6.6221).
Growth Streaks & Declines
TrendsBetween March and May, 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 October and November, when the average rate fell by 0.1294 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2022: 7.3107) against the same month in 2021 (average: 6.8902), the exchange rate shifted by +0.4205 (+6.10%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 7.0363 | 6.6378 | 6.8121 |
| February | 6.8371 | 6.6221 | 6.7194 |
| March | 6.8010 | 6.4425 | 6.6084 |
| April | 6.9349 | 6.4148 | 6.6208 |
| May | 7.0065 | 6.6834 | 6.8441 |
| June | 6.9419 | 6.6315 | 6.8029 |
| July | 7.3054 | 6.9659 | 7.1528 |
| August | 7.2687 | 6.9303 | 7.1478 |
| September | 7.4884 | 7.2473 | 7.3743 |
| October | 7.5873 | 7.2674 | 7.4401 |
| November | 7.6179 | 7.1565 | 7.3107 |
| December | 7.5255 | 7.2058 | 7.3685 |