2014 AZN to RSD Historical Review

YEARLY HIGH

127.8374 RSD

YEARLY LOW

105.8673 RSD

YEARLY AVERAGE

112.7847 RSD

2014 AZN to RSD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the AZN to RSD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 127.8374. Conversely, the yearly low was recorded on May 6, dropping to 105.8673.

This high-to-low spread represents a total annual volatility of 21.9702 RSD. From a start-to-finish perspective, comparing the January average rate of 108.0436 to the December average rate of 125.8983, the exchange rate registered a net change of 16.53% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 127.8374 was up 12.72% compared to the 2013 peak of 113.4081, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 AZN based on timing:

Yearly Peak High 639,187 RSD

2013 Average 542,714 RSD

Yearly Trough Low 529,336 RSD

Transaction Impact: A difference of 109,850.90 RSD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

127.8175

104.7871

JanuMarcMayJulySeptNove

AZN to RSD 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 107.5694, compared to 118.0001 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 10.4307 points.

H1 Avg (Jan–Jun) 107.5694

H2 Avg (Jul–Dec) 118.0001

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 5.0786 RSD (High: 119.5672 / Low: 114.4885). On the other end, June was the most stable month, with a tight range of 0.8274 RSD (High: 108.7657 / Low: 107.9383).

September Spread (Volatile) ±5.0786

June Spread (Stable) ±0.8274

Growth Streaks & Declines

Trends

Between April and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 8 straight months. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 1.4613 points.

Longest Streak 8 Mo.

Sharpest MoM Drop -1.4613

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 125.8983) against the same month in 2013 (average: 106.7803), the exchange rate shifted by +19.1180 (+17.90%).

2014 Avg (December) 125.8983

2013 Avg (December) 106.7803

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	109.4302	106.2142	108.0436
February	109.5689	107.2410	108.2068
March	107.6753	106.0619	106.7455
April	107.4736	106.0929	106.7063
May	108.4320	105.8673	107.3828
June	108.7657	107.9383	108.3315
July	111.3148	107.9755	109.4912
August	114.5029	111.0199	112.4489
September	119.5672	114.4885	117.4198
October	121.2398	119.0332	120.0755
November	123.6913	121.0245	122.6670
December	127.8374	123.4601	125.8983