2014 GEL to TOP Historical Review

YEARLY HIGH

1.1398 TOP

YEARLY LOW

1.0197 TOP

YEARLY AVERAGE

1.0722 TOP

2014 GEL to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the GEL to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on November 10, valuing the pair at 1.1398. Conversely, the yearly low was recorded on July 13, dropping to 1.0197.

This high-to-low spread represents a total annual volatility of 0.1202 TOP. From a start-to-finish perspective, comparing the January average rate of 1.0562 to the December average rate of 1.1017, the exchange rate registered a net change of 4.30% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 1.1398 was down 0.55% compared to the 2013 peak of 1.1461, 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 5,699 TOP

2013 Average 5,382 TOP

Yearly Trough Low 5,098 TOP

Transaction Impact: A difference of 600.80 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

1.1298

1.0334

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 1.0546, compared to 1.0898 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0352 points.

H1 Avg (Jan–Jun) 1.0546

H2 Avg (Jul–Dec) 1.0898

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 0.0568 TOP (High: 1.1122 / Low: 1.0554). On the other end, February was the most stable month, with a tight range of 0.0169 TOP (High: 1.0757 / Low: 1.0588).

September Spread (Volatile) ±0.0568

February Spread (Stable) ±0.0169

Growth Streaks & Declines

Trends

Between July and November, 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 0.0201 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0201

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2014: 1.1218) against the same month in 2013 (average: 1.0804), the exchange rate shifted by +0.0414 (+3.83%).

2014 Avg (November) 1.1218

2013 Avg (November) 1.0804

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.0672	1.0404	1.0562
February	1.0757	1.0588	1.0668
March	1.0679	1.0409	1.0608
April	1.0540	1.0264	1.0414
May	1.0576	1.0309	1.0510
June	1.0632	1.0456	1.0514
July	1.0688	1.0197	1.0466
August	1.0829	1.0466	1.0658
September	1.1122	1.0554	1.0875
October	1.1237	1.1034	1.1155
November	1.1398	1.0861	1.1218
December	1.1184	1.0784	1.1017