2024 ZAR to TOP Historical Review

YEARLY HIGH

0.1377 TOP

YEARLY LOW

0.1222 TOP

YEARLY AVERAGE

0.1293 TOP

2024 ZAR to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the ZAR to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on November 7, valuing the pair at 0.1377. Conversely, the yearly low was recorded on February 25, dropping to 0.1222.

This high-to-low spread represents a total annual volatility of 0.0155 TOP. From a start-to-finish perspective, comparing the January average rate of 0.1256 to the December average rate of 0.1313, the exchange rate registered a net change of 4.52% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.1377 was down 1.21% compared to the 2023 peak of 0.1394, 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 6,886 TOP

2023 Average 6,406 TOP

Yearly Trough Low 6,112 TOP

Transaction Impact: A difference of 774.26 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.1354

0.1235

JanuMarcMayJulySeptNove

ZAR to TOP 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 0.1265, compared to 0.1322 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0057 points.

H1 Avg (Jan–Jun) 0.1265

H2 Avg (Jul–Dec) 0.1322

Volatility Range Comparison

Volatility

The most volatile month in 2024 was December, with a trading range of 0.0086 TOP (High: 0.1353 / Low: 0.1267). On the other end, October was the most stable month, with a tight range of 0.0021 TOP (High: 0.1355 / Low: 0.1334).

December Spread (Volatile) ±0.0086

October Spread (Stable) ±0.0021

Growth Streaks & Declines

Trends

Between June and October, 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 November and December, when the average rate fell by 0.0018 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0018

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2024: 0.1332) against the same month in 2023 (average: 0.1286), the exchange rate shifted by +0.0046 (+3.54%).

2024 Avg (November) 0.1332

2023 Avg (November) 0.1286

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.1285	0.1231	0.1256
February	0.1272	0.1222	0.1245
March	0.1271	0.1242	0.1256
April	0.1295	0.1240	0.1263
May	0.1306	0.1256	0.1286
June	0.1316	0.1241	0.1282
July	0.1313	0.1270	0.1298
August	0.1335	0.1269	0.1309
September	0.1366	0.1303	0.1333
October	0.1355	0.1334	0.1344
November	0.1377	0.1309	0.1332
December	0.1353	0.1267	0.1313