2023 ZAR to CDF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 ZAR to CDF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the ZAR to CDF exchange rate experienced significant fluctuation. The market reached its absolute peak on December 21, valuing the pair at 152.9361. Conversely, the yearly low was recorded on May 13, dropping to 105.7667.
This high-to-low spread represents a total annual volatility of 47.1693 CDF. From a start-to-finish perspective, comparing the January average rate of 119.9784 to the December average rate of 146.4338, the exchange rate registered a net change of 22.05% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 152.9361 was up 10.41% compared to the 2022 peak of 138.5188, 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 CDF 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 117.2375, compared to 135.7421 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 18.5045 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was July, with a trading range of 17.5272 CDF (High: 144.7379 / Low: 127.2107). On the other end, September was the most stable month, with a tight range of 3.8201 CDF (High: 133.0380 / Low: 129.2179).
Growth Streaks & Declines
TrendsBetween September and December, 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 January and February, when the average rate fell by 4.8699 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 146.4338) against the same month in 2022 (average: 118.3245), the exchange rate shifted by +28.1094 (+23.76%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 122.2597 | 118.1384 | 119.9784 |
| February | 120.5648 | 111.0007 | 115.1084 |
| March | 116.1980 | 109.4494 | 113.2007 |
| April | 119.2334 | 111.7741 | 114.5729 |
| May | 121.3083 | 105.7667 | 114.5215 |
| June | 130.5760 | 118.5505 | 126.0434 |
| July | 144.7379 | 127.2107 | 135.6708 |
| August | 135.7331 | 128.5278 | 131.8553 |
| September | 133.0380 | 129.2179 | 130.9582 |
| October | 137.8811 | 126.7918 | 132.3392 |
| November | 144.3894 | 131.3517 | 137.1951 |
| December | 152.9361 | 140.1426 | 146.4338 |