2024 GEL to ISK Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 GEL to ISK Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the GEL to ISK exchange rate experienced significant fluctuation. The market reached its absolute peak on April 16, valuing the pair at 53.3947. Conversely, the yearly low was recorded on June 12, dropping to 48.2797.
This high-to-low spread represents a total annual volatility of 5.1150 ISK. From a start-to-finish perspective, comparing the January average rate of 51.1712 to the December average rate of 49.2775, the exchange rate registered a net change of -3.70% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2024 high of 53.3947 was down 3.93% compared to the 2023 peak of 55.5771, 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 ISK 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 51.2116, compared to 50.3466 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.8650 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was May, with a trading range of 3.6060 ISK (High: 52.4662 / Low: 48.8602). On the other end, January was the most stable month, with a tight range of 1.1034 ISK (High: 51.7552 / Low: 50.6518).
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 2.0072 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (April 2024: 52.4288) against the same month in 2023 (average: 54.1397), the exchange rate shifted by -1.7109 (-3.16%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 51.7552 | 50.6518 | 51.1712 |
| February | 52.4000 | 51.1069 | 51.9277 |
| March | 52.1132 | 50.1033 | 51.3007 |
| April | 53.3947 | 51.7271 | 52.4288 |
| May | 52.4662 | 48.8602 | 51.2241 |
| June | 50.2477 | 48.2797 | 49.2169 |
| July | 51.1556 | 49.4552 | 50.3644 |
| August | 51.6691 | 50.4732 | 51.1013 |
| September | 51.6468 | 49.4113 | 50.6700 |
| October | 50.7794 | 49.2969 | 50.1694 |
| November | 51.2110 | 48.8462 | 50.4970 |
| December | 49.8841 | 48.3031 | 49.2775 |