2023 ZAR to PHP Historical Review

YEARLY HIGH

3.3147 PHP

YEARLY LOW

2.8355 PHP

YEARLY AVERAGE

3.0168 PHP

2023 ZAR to PHP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the ZAR to PHP exchange rate experienced significant fluctuation. The market reached its absolute peak on January 4, valuing the pair at 3.3147. Conversely, the yearly low was recorded on May 25, dropping to 2.8355.

This high-to-low spread represents a total annual volatility of 0.4792 PHP. From a start-to-finish perspective, comparing the January average rate of 3.2172 to the December average rate of 2.9860, the exchange rate registered a net change of -7.18% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 3.3147 was down 7.85% compared to the 2022 peak of 3.5972, 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 165,734 PHP

2022 Average 166,670 PHP

Yearly Trough Low 141,776 PHP

Transaction Impact: A difference of 23,958.26 PHP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

3.2468

2.8918

JanuMarcMayJulySeptNove

ZAR to PHP 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 3.0362, compared to 2.9974 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0389 points.

H1 Avg (Jan–Jun) 3.0362

H2 Avg (Jul–Dec) 2.9974

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.2089 PHP (High: 3.0665 / Low: 2.8576). On the other end, September was the most stable month, with a tight range of 0.0680 PHP (High: 3.0312 / Low: 2.9632).

June Spread (Volatile) ±0.2089

September Spread (Stable) ±0.0680

Growth Streaks & Declines

Trends

Between May and July, 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 January and February, when the average rate fell by 0.1561 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.1561

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 3.2172) against the same month in 2022 (average: 3.3050), the exchange rate shifted by -0.0878 (-2.66%).

2023 Avg (January) 3.2172

2022 Avg (January) 3.3050

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	3.3147	3.1413	3.2172
February	3.1744	2.9879	3.0610
March	3.0585	2.9135	2.9959
April	3.1051	2.9584	3.0419
May	3.0304	2.8355	2.9214
June	3.0665	2.8576	2.9799
July	3.1156	2.9084	3.0159
August	3.0676	2.9489	2.9980
September	3.0312	2.9632	2.9945
October	3.0461	2.9042	2.9836
November	3.0685	2.9362	3.0062
December	3.0448	2.9128	2.9860