2014 SAR to VEF Historical Review

YEARLY HIGH

1.6863 VEF

YEARLY LOW

1.6732 VEF

YEARLY AVERAGE

1.6784 VEF

2014 SAR to VEF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the SAR to VEF exchange rate experienced significant fluctuation. The market reached its absolute peak on September 8, valuing the pair at 1.6863. Conversely, the yearly low was recorded on October 7, dropping to 1.6732.

This high-to-low spread represents a total annual volatility of 0.0131 VEF. From a start-to-finish perspective, comparing the January average rate of 1.6777 to the December average rate of 1.6823, the exchange rate registered a net change of 0.27% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 1.6863 was up 0.41% compared to the 2013 peak of 1.6793, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 8,431 VEF

2013 Average 7,783 VEF

Yearly Trough Low 8,366 VEF

Transaction Impact: A difference of 65.33 VEF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

1.6827

1.6772

JanuMarcMayJulySeptNove

SAR to VEF 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 1.6779, compared to 1.6790 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0012 points.

H1 Avg (Jan–Jun) 1.6779

H2 Avg (Jul–Dec) 1.6790

Volatility Range Comparison

Volatility

The most volatile month in 2014 was October, with a trading range of 0.0101 VEF (High: 1.6833 / Low: 1.6732). On the other end, March was the most stable month, with a tight range of 0.0010 VEF (High: 1.6781 / Low: 1.6771).

October Spread (Volatile) ±0.0101

March Spread (Stable) ±0.0010

Growth Streaks & Declines

Trends

Between January and June, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 0.0011 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0011

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (September 2014: 1.6798) against the same month in 2013 (average: 1.6774), the exchange rate shifted by +0.0023 (+0.14%).

2014 Avg (September) 1.6798

2013 Avg (September) 1.6774

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.6785	1.6762	1.6777
February	1.6785	1.6771	1.6777
March	1.6781	1.6771	1.6778
April	1.6785	1.6769	1.6778
May	1.6784	1.6771	1.6779
June	1.6815	1.6773	1.6782
July	1.6784	1.6773	1.6780
August	1.6785	1.6771	1.6778
September	1.6863	1.6769	1.6798
October	1.6833	1.6732	1.6787
November	1.6811	1.6755	1.6777
December	1.6847	1.6777	1.6823