2024 GEL to MXN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 GEL to MXN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the GEL to MXN exchange rate experienced significant fluctuation. The market reached its absolute peak on November 26, valuing the pair at 7.5706. Conversely, the yearly low was recorded on May 15, dropping to 5.9058.
This high-to-low spread represents a total annual volatility of 1.6648 MXN. From a start-to-finish perspective, comparing the January average rate of 6.3757 to the December average rate of 7.1963, the exchange rate registered a net change of 12.87% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 7.5706 was up 2.97% compared to the 2023 peak of 7.3520, 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 MXN 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 6.3375, compared to 7.1372 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.7997 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was June, with a trading range of 0.5380 MXN (High: 6.6223 / Low: 6.0843). On the other end, February was the most stable month, with a tight range of 0.0852 MXN (High: 6.4924 / Low: 6.4072).
Growth Streaks & Declines
TrendsBetween May and September, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between November and December, when the average rate fell by 0.2370 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2024: 7.4333) against the same month in 2023 (average: 6.4315), the exchange rate shifted by +1.0018 (+15.58%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 6.5196 | 6.2705 | 6.3757 |
| February | 6.4924 | 6.4072 | 6.4431 |
| March | 6.4211 | 6.1337 | 6.2702 |
| April | 6.4204 | 6.1038 | 6.2841 |
| May | 6.3614 | 5.9058 | 6.1991 |
| June | 6.6223 | 6.0843 | 6.4525 |
| July | 6.9138 | 6.4545 | 6.6214 |
| August | 7.3649 | 6.9334 | 7.1051 |
| September | 7.4563 | 7.0909 | 7.2522 |
| October | 7.3652 | 7.0276 | 7.2149 |
| November | 7.5706 | 7.2446 | 7.4333 |
| December | 7.4201 | 7.0798 | 7.1963 |