2014 MAD to RSD Historical Review

YEARLY HIGH

11.1324 RSD

YEARLY LOW

10.1718 RSD

YEARLY AVERAGE

10.5033 RSD

2014 MAD to RSD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the MAD to RSD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 17, valuing the pair at 11.1324. Conversely, the yearly low was recorded on March 30, dropping to 10.1718.

This high-to-low spread represents a total annual volatility of 0.9606 RSD. From a start-to-finish perspective, comparing the January average rate of 10.2916 to the December average rate of 11.0440, the exchange rate registered a net change of 7.31% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 11.1324 was up 7.86% compared to the 2013 peak of 10.3208, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 55,662 RSD

2013 Average 50,640 RSD

Yearly Trough Low 50,859 RSD

Transaction Impact: A difference of 4,802.84 RSD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

11.1201

10.2071

JanuMarcMayJulySeptNove

MAD to RSD 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 10.2980, compared to 10.7086 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.4106 points.

H1 Avg (Jan–Jun) 10.2980

H2 Avg (Jul–Dec) 10.7086

Volatility Range Comparison

Volatility

The most volatile month in 2014 was December, with a trading range of 0.1902 RSD (High: 11.1324 / Low: 10.9422). On the other end, June was the most stable month, with a tight range of 0.0317 RSD (High: 10.3175 / Low: 10.2858).

December Spread (Volatile) ±0.1902

June Spread (Stable) ±0.0317

Growth Streaks & Declines

Trends

Between April and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 8 straight months. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 0.0379 points.

Longest Streak 8 Mo.

Sharpest MoM Drop -0.0379

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 11.0440) against the same month in 2013 (average: 10.2064), the exchange rate shifted by +0.8376 (+8.21%).

2014 Avg (December) 11.0440

2013 Avg (December) 10.2064

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	10.3507	10.1927	10.2916
February	10.3589	10.2986	10.3291
March	10.3347	10.1718	10.2913
April	10.3047	10.2625	10.2832
May	10.3299	10.2527	10.2938
June	10.3175	10.2858	10.2987
July	10.4555	10.3017	10.3717
August	10.5818	10.4469	10.5121
September	10.7352	10.5804	10.6837
October	10.7933	10.7217	10.7687
November	10.9366	10.7550	10.8711
December	11.1324	10.9422	11.0440