2023 ZAR to PKR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 ZAR to PKR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the ZAR to PKR exchange rate experienced significant fluctuation. The market reached its absolute peak on August 29, valuing the pair at 16.4570. Conversely, the yearly low was recorded on January 5, dropping to 13.2316.
This high-to-low spread represents a total annual volatility of 3.2255 PKR. From a start-to-finish perspective, comparing the January average rate of 13.6846 to the December average rate of 15.1673, the exchange rate registered a net change of 10.84% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 16.4570 was up 13.77% compared to the 2022 peak of 14.4653, 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 PKR 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 14.9545, compared to 15.3289 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.3744 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was January, with a trading range of 2.1655 PKR (High: 15.3971 / Low: 13.2316). On the other end, December was the most stable month, with a tight range of 0.6030 PKR (High: 15.4897 / Low: 14.8867).
Growth Streaks & Declines
TrendsBetween May and September, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 1.0161 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (August 2023: 15.6269) against the same month in 2022 (average: 13.2133), the exchange rate shifted by +2.4137 (+18.27%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 15.3971 | 13.2316 | 13.6846 |
| February | 15.8172 | 13.9938 | 14.8196 |
| March | 15.9530 | 14.4609 | 15.3358 |
| April | 16.0379 | 15.3371 | 15.6169 |
| May | 15.5155 | 14.4421 | 14.9663 |
| June | 15.8024 | 14.5314 | 15.3037 |
| July | 16.3107 | 14.2817 | 15.4742 |
| August | 16.4570 | 14.9997 | 15.6269 |
| September | 16.2579 | 15.0360 | 15.6965 |
| October | 15.3000 | 14.3716 | 14.6804 |
| November | 15.8477 | 14.9539 | 15.3283 |
| December | 15.4897 | 14.8867 | 15.1673 |