2023 ZAR to KRW Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 ZAR to KRW Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the ZAR to KRW exchange rate experienced significant fluctuation. The market reached its absolute peak on January 4, valuing the pair at 75.2957. Conversely, the yearly low was recorded on June 4, dropping to 66.8571.
This high-to-low spread represents a total annual volatility of 8.4387 KRW. From a start-to-finish perspective, comparing the January average rate of 72.7707 to the December average rate of 69.9890, the exchange rate registered a net change of -3.82% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 75.2957 was down 11.07% compared to the 2022 peak of 84.6716, 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 KRW 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 71.1824, compared to 70.4706 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.7118 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was May, with a trading range of 5.9853 KRW (High: 73.0089 / Low: 67.0236). On the other end, February was the most stable month, with a tight range of 1.3466 KRW (High: 72.0699 / Low: 70.7233).
Growth Streaks & Declines
TrendsBetween February and April, 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 April and May, when the average rate fell by 3.1826 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2023: 72.7707) against the same month in 2022 (average: 77.1708), the exchange rate shifted by -4.4001 (-5.70%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 75.2957 | 70.8196 | 72.7707 |
| February | 72.0699 | 70.7233 | 71.3968 |
| March | 73.4225 | 69.6754 | 71.4384 |
| April | 73.5605 | 71.3873 | 72.7531 |
| May | 73.0089 | 67.0236 | 69.5706 |
| June | 70.5990 | 66.8571 | 69.1649 |
| July | 72.6021 | 67.9290 | 70.5766 |
| August | 71.9266 | 69.2594 | 70.4727 |
| September | 71.4963 | 69.0278 | 70.3322 |
| October | 72.4862 | 69.0104 | 70.9556 |
| November | 72.9020 | 68.8088 | 70.4976 |
| December | 70.9841 | 68.9093 | 69.9890 |