2023 ZAR to BIF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 ZAR to BIF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the ZAR to BIF exchange rate experienced significant fluctuation. The market reached its absolute peak on July 25, valuing the pair at 161.3099. Conversely, the yearly low was recorded on May 13, dropping to 107.6951.
This high-to-low spread represents a total annual volatility of 53.6148 BIF. From a start-to-finish perspective, comparing the January average rate of 121.1617 to the December average rate of 153.3216, the exchange rate registered a net change of 26.54% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 161.3099 was up 14.19% compared to the 2022 peak of 141.2592, indicating shifts in long-term support levels.
Comparing the value generated converting 50,000 ZAR based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
ZAR to BIF 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 123.5109, compared to 151.9255 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 28.4146 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was May, with a trading range of 39.1521 BIF (High: 146.8472 / Low: 107.6951). On the other end, September was the most stable month, with a tight range of 4.1584 BIF (High: 151.6473 / Low: 147.4890).
Growth Streaks & Declines
TrendsBetween March and July, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 5.4506 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (July 2023: 155.4430) against the same month in 2022 (average: 122.2902), the exchange rate shifted by +33.1528 (+27.11%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 123.5122 | 119.0089 | 121.1617 |
| February | 121.6665 | 112.0320 | 115.7111 |
| March | 117.1753 | 109.1679 | 113.6567 |
| April | 117.1753 | 112.4870 | 114.4778 |
| May | 146.8472 | 107.6951 | 124.9825 |
| June | 156.1689 | 143.7390 | 151.0753 |
| July | 161.3099 | 148.3172 | 155.4430 |
| August | 154.9928 | 147.7718 | 150.9094 |
| September | 151.6473 | 147.4890 | 149.5285 |
| October | 152.2264 | 144.7784 | 149.1458 |
| November | 156.4793 | 150.4374 | 153.2047 |
| December | 156.2047 | 149.3830 | 153.3216 |