2023 GEL to TOP Historical Review

YEARLY HIGH

0.9515 TOP

YEARLY LOW

0.8661 TOP

YEARLY AVERAGE

0.9006 TOP

2023 GEL to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the GEL to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on May 2, valuing the pair at 0.9515. Conversely, the yearly low was recorded on January 10, dropping to 0.8661.

This high-to-low spread represents a total annual volatility of 0.0854 TOP. From a start-to-finish perspective, comparing the January average rate of 0.8740 to the December average rate of 0.8750, the exchange rate registered a net change of 0.11% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.9515 was up 6.67% compared to the 2022 peak of 0.8920, 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 4,758 TOP

2022 Average 4,014 TOP

Yearly Trough Low 4,330 TOP

Transaction Impact: A difference of 427.14 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.9394

0.8681

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 0.9062, compared to 0.8950 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0113 points.

H1 Avg (Jan–Jun) 0.9062

H2 Avg (Jul–Dec) 0.8950

Volatility Range Comparison

Volatility

The most volatile month in 2023 was May, with a trading range of 0.0425 TOP (High: 0.9515 / Low: 0.9090). On the other end, July was the most stable month, with a tight range of 0.0109 TOP (High: 0.9135 / Low: 0.9026).

May Spread (Volatile) ±0.0425

July Spread (Stable) ±0.0109

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 May and June, when the average rate fell by 0.0250 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0250

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 0.9281) against the same month in 2022 (average: 0.7827), the exchange rate shifted by +0.1454 (+18.57%).

2023 Avg (May) 0.9281

2022 Avg (May) 0.7827

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.8808	0.8661	0.8740
February	0.8980	0.8752	0.8844
March	0.9233	0.8967	0.9144
April	0.9492	0.9174	0.9335
May	0.9515	0.9090	0.9281
June	0.9142	0.8941	0.9030
July	0.9135	0.9026	0.9079
August	0.9155	0.9040	0.9091
September	0.9181	0.8876	0.9036
October	0.8973	0.8858	0.8920
November	0.8946	0.8718	0.8822
December	0.8857	0.8664	0.8750