2011 GEL to TOP Historical Review

YEARLY HIGH

1.1293 TOP

YEARLY LOW

0.9727 TOP

YEARLY AVERAGE

1.0416 TOP

2011 GEL to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the GEL to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on April 21, valuing the pair at 1.1293. Conversely, the yearly low was recorded on August 10, dropping to 0.9727.

This high-to-low spread represents a total annual volatility of 0.1565 TOP. From a start-to-finish perspective, comparing the January average rate of 1.0359 to the December average rate of 1.0458, the exchange rate registered a net change of 0.96% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 1.1293 was down 1.10% compared to the 2010 peak of 1.1418, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 5,646 TOP

2010 Average 5,388 TOP

Yearly Trough Low 4,864 TOP

Transaction Impact: A difference of 782.56 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

1.1112

0.9821

JanuMarcMayJulySeptNove

GEL 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 1.0619, compared to 1.0213 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0406 points.

H1 Avg (Jan–Jun) 1.0619

H2 Avg (Jul–Dec) 1.0213

Volatility Range Comparison

Volatility

The most volatile month in 2011 was September, with a trading range of 0.0653 TOP (High: 1.0464 / Low: 0.9811). On the other end, December was the most stable month, with a tight range of 0.0278 TOP (High: 1.0591 / Low: 1.0313).

September Spread (Volatile) ±0.0653

December Spread (Stable) ±0.0278

Growth Streaks & Declines

Trends

Between January and April, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between April and May, when the average rate fell by 0.0471 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0471

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (April 2011: 1.1005) against the same month in 2010 (average: 1.0951), the exchange rate shifted by +0.0054 (+0.49%).

2011 Avg (April) 1.1005

2010 Avg (April) 1.0951

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.0543	1.0244	1.0359
February	1.0649	1.0283	1.0450
March	1.0976	1.0656	1.0846
April	1.1293	1.0813	1.1005
May	1.0839	1.0421	1.0534
June	1.0655	1.0354	1.0520
July	1.0364	0.9763	1.0118
August	1.0047	0.9727	0.9928
September	1.0464	0.9811	1.0117
October	1.0599	1.0165	1.0336
November	1.0763	1.0132	1.0320
December	1.0591	1.0313	1.0458