2024 GEL to IQD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 GEL to IQD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the GEL to IQD exchange rate experienced significant fluctuation. The market reached its absolute peak on February 18, valuing the pair at 497.1678. Conversely, the yearly low was recorded on June 15, dropping to 455.3482.
This high-to-low spread represents a total annual volatility of 41.8196 IQD. From a start-to-finish perspective, comparing the January average rate of 489.5393 to the December average rate of 465.3041, the exchange rate registered a net change of -4.95% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2024 high of 497.1678 was down 15.44% compared to the 2023 peak of 587.9276, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 GEL based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
GEL to IQD 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 485.0939, compared to 479.0396 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 6.0543 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was May, with a trading range of 28.8077 IQD (High: 492.4845 / Low: 463.6768). On the other end, October was the most stable month, with a tight range of 5.6359 IQD (High: 482.6447 / Low: 477.0089).
Growth Streaks & Declines
TrendsBetween June and August, 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 May and June, when the average rate fell by 18.3472 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (February 2024: 493.9625) against the same month in 2023 (average: 552.4084), the exchange rate shifted by -58.4459 (-10.58%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 493.7327 | 485.0331 | 489.5393 |
| February | 497.1678 | 491.4377 | 493.9625 |
| March | 494.5234 | 482.5286 | 489.5255 |
| April | 492.4489 | 485.9570 | 489.4890 |
| May | 492.4845 | 463.6768 | 483.1971 |
| June | 472.6272 | 455.3482 | 464.8499 |
| July | 485.2644 | 467.6786 | 478.9334 |
| August | 488.8848 | 479.9172 | 485.1558 |
| September | 488.7729 | 478.9762 | 484.8629 |
| October | 482.6447 | 477.0089 | 480.5968 |
| November | 484.2990 | 464.9009 | 479.3847 |
| December | 468.4175 | 456.6289 | 465.3041 |