2014 BTN to RSD Historical Review

YEARLY HIGH

1.5975 RSD

YEARLY LOW

1.3431 RSD

YEARLY AVERAGE

1.4489 RSD

2014 BTN to RSD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the BTN to RSD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 8, valuing the pair at 1.5975. Conversely, the yearly low was recorded on January 27, dropping to 1.3431.

This high-to-low spread represents a total annual volatility of 0.2545 RSD. From a start-to-finish perspective, comparing the January average rate of 1.3650 to the December average rate of 1.5729, the exchange rate registered a net change of 15.23% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 1.5975 was down 0.77% compared to the 2013 peak of 1.6099, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 7,988 RSD

2013 Average 7,302 RSD

Yearly Trough Low 6,715 RSD

Transaction Impact: A difference of 1,272.30 RSD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

1.5938

1.3425

JanuMarcMayJulySeptNove

BTN 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 1.3882, compared to 1.5096 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1214 points.

H1 Avg (Jan–Jun) 1.3882

H2 Avg (Jul–Dec) 1.5096

Volatility Range Comparison

Volatility

The most volatile month in 2014 was May, with a trading range of 0.0720 RSD (High: 1.4536 / Low: 1.3816). On the other end, February was the most stable month, with a tight range of 0.0159 RSD (High: 1.3715 / Low: 1.3556).

May Spread (Volatile) ±0.0720

February Spread (Stable) ±0.0159

Growth Streaks & Declines

Trends

Between February and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 10 straight months. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 0.0016 points.

Longest Streak 10 Mo.

Sharpest MoM Drop -0.0016

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 1.5729) against the same month in 2013 (average: 1.3528), the exchange rate shifted by +0.2201 (+16.27%).

2014 Avg (December) 1.5729

2013 Avg (December) 1.3528

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.3894	1.3431	1.3650
February	1.3715	1.3556	1.3635
March	1.3999	1.3567	1.3726
April	1.4015	1.3687	1.3867
May	1.4536	1.3816	1.4189
June	1.4388	1.4076	1.4223
July	1.4505	1.4093	1.4296
August	1.4815	1.4238	1.4488
September	1.5327	1.4826	1.5132
October	1.5452	1.5138	1.5337
November	1.5735	1.5459	1.5591
December	1.5975	1.5459	1.5729