YEARLY HIGH
152.9361 CDF
YEARLY LOW
105.7667 CDF
YEARLY AVERAGE
126.4898 CDF

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.

Transfer Payout Power Comparison

Comparing the value generated converting 50,000 ZAR based on timing:

Yearly Peak High 7,646,804 CDF
2022 Average 6,191,073 CDF
Yearly Trough Low 5,288,337 CDF
Transaction Impact: A difference of 2,358,466.96 CDF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

149.7572
109.8773
JanuMarcMayJulySeptNove

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)

Seasonal

The 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.

H1 Avg (Jan–Jun) 117.2375
H2 Avg (Jul–Dec) 135.7421

Volatility Range Comparison

Volatility

The 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).

July Spread (Volatile) ±17.5272
September Spread (Stable) ±3.8201

Growth Streaks & Declines

Trends

Between 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.

Longest Streak 3 Mo.
Sharpest MoM Drop -4.8699

Same-Month Historical Baseline

YoY Baseline

Comparing 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%).

2023 Avg (December) 146.4338
2022 Avg (December) 118.3245

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