2014 BGN to TOP Historical Review

YEARLY HIGH

1.3234 TOP

YEARLY LOW

1.2198 TOP

YEARLY AVERAGE

1.2803 TOP

2014 BGN to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the BGN to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on March 17, valuing the pair at 1.3234. Conversely, the yearly low was recorded on December 29, dropping to 1.2198.

This high-to-low spread represents a total annual volatility of 0.1036 TOP. From a start-to-finish perspective, comparing the January average rate of 1.2959 to the December average rate of 1.2357, the exchange rate registered a net change of -4.64% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2014 high of 1.3234 was up 1.13% compared to the 2013 peak of 1.3087, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 6,617 TOP

2013 Average 6,083 TOP

Yearly Trough Low 6,099 TOP

Transaction Impact: A difference of 518.02 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

1.3188

1.2282

JanuMarcMayJulySeptNove

BGN 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 1.2992, compared to 1.2613 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0379 points.

H1 Avg (Jan–Jun) 1.2992

H2 Avg (Jul–Dec) 1.2613

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 0.0450 TOP (High: 1.2691 / Low: 1.2241). On the other end, February was the most stable month, with a tight range of 0.0213 TOP (High: 1.3121 / Low: 1.2908).

September Spread (Volatile) ±0.0450

February Spread (Stable) ±0.0213

Growth Streaks & Declines

Trends

Between January and March, 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 November and December, when the average rate fell by 0.0321 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0321

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (March 2014: 1.3112) against the same month in 2013 (average: 1.1577), the exchange rate shifted by +0.1535 (+13.26%).

2014 Avg (March) 1.3112

2013 Avg (March) 1.1577

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.3100	1.2841	1.2959
February	1.3121	1.2908	1.3044
March	1.3234	1.2855	1.3112
April	1.3165	1.2769	1.2925
May	1.3161	1.2887	1.3005
June	1.3045	1.2824	1.2910
July	1.2885	1.2504	1.2751
August	1.2880	1.2457	1.2643
September	1.2691	1.2241	1.2551
October	1.2917	1.2503	1.2699
November	1.2776	1.2447	1.2678
December	1.2581	1.2198	1.2357