2023 ZAR to NOK Historical Review

YEARLY HIGH

0.6098 NOK

YEARLY LOW

0.5372 NOK

YEARLY AVERAGE

0.5725 NOK

2023 ZAR to NOK Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the ZAR to NOK exchange rate experienced significant fluctuation. The market reached its absolute peak on November 7, valuing the pair at 0.6098. Conversely, the yearly low was recorded on August 9, dropping to 0.5372.

This high-to-low spread represents a total annual volatility of 0.0726 NOK. From a start-to-finish perspective, comparing the January average rate of 0.5813 to the December average rate of 0.5654, the exchange rate registered a net change of -2.73% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.6098 was down 3.15% compared to the 2022 peak of 0.6297, 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 30,491 NOK

2022 Average 29,376 NOK

Yearly Trough Low 26,862 NOK

Transaction Impact: A difference of 3,628.57 NOK purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.5914

0.5546

JanuMarcMayJulySeptNove

ZAR to NOK 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 0.5751, compared to 0.5700 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0051 points.

H1 Avg (Jan–Jun) 0.5751

H2 Avg (Jul–Dec) 0.5700

Volatility Range Comparison

Volatility

The most volatile month in 2023 was November, with a trading range of 0.0415 NOK (High: 0.6098 / Low: 0.5683). On the other end, September was the most stable month, with a tight range of 0.0194 NOK (High: 0.5756 / Low: 0.5562).

November Spread (Volatile) ±0.0415

September Spread (Stable) ±0.0194

Growth Streaks & Declines

Trends

Between August and November, 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 November and December, when the average rate fell by 0.0229 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0229

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2023: 0.5883) against the same month in 2022 (average: 0.5797), the exchange rate shifted by +0.0087 (+1.50%).

2023 Avg (November) 0.5883

2022 Avg (November) 0.5797

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.5977	0.5715	0.5813
February	0.5887	0.5614	0.5719
March	0.5895	0.5685	0.5767
April	0.5895	0.5664	0.5784
May	0.5880	0.5514	0.5663
June	0.5880	0.5632	0.5761
July	0.5785	0.5541	0.5646
August	0.5763	0.5372	0.5577
September	0.5756	0.5562	0.5657
October	0.5992	0.5600	0.5781
November	0.6098	0.5683	0.5883
December	0.5787	0.5413	0.5654