2011 TMT to GEL Historical Review

YEARLY HIGH

1.8104 GEL

YEARLY LOW

1.6384 GEL

YEARLY AVERAGE

1.6859 GEL

2011 TMT to GEL Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the TMT to GEL exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 1.8104. Conversely, the yearly low was recorded on April 28, dropping to 1.6384.

This high-to-low spread represents a total annual volatility of 0.1721 GEL. From a start-to-finish perspective, comparing the January average rate of 1.7963 to the December average rate of 1.6599, the exchange rate registered a net change of -7.59% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2011 high of 1.8104 was down 6.10% compared to the 2010 peak of 1.9280, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 9,052 GEL

2010 Average 8,942 GEL

Yearly Trough Low 8,192 GEL

Transaction Impact: A difference of 860.32 GEL purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

1.8110

1.6351

JanuMarcMayJulySeptNove

TMT to GEL 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 1.7128, compared to 1.6590 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0538 points.

H1 Avg (Jan–Jun) 1.7128

H2 Avg (Jul–Dec) 1.6590

Volatility Range Comparison

Volatility

The most volatile month in 2011 was April, with a trading range of 0.0678 GEL (High: 1.7062 / Low: 1.6384). On the other end, November was the most stable month, with a tight range of 0.0077 GEL (High: 1.6617 / Low: 1.6540).

April Spread (Volatile) ±0.0678

November Spread (Stable) ±0.0077

Growth Streaks & Declines

Trends

No sustained consecutive month-over-month growth streak of 2+ months occurred in 2011. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 0.0631 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0631

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2011: 1.7963) against the same month in 2010 (average: 1.7108), the exchange rate shifted by +0.0855 (+5.00%).

2011 Avg (January) 1.7963

2010 Avg (January) 1.7108

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.8104	1.7722	1.7963
February	1.8026	1.7407	1.7743
March	1.7306	1.6976	1.7111
April	1.7062	1.6384	1.6644
May	1.6928	1.6399	1.6763
June	1.6661	1.6409	1.6547
July	1.6826	1.6461	1.6657
August	1.6651	1.6438	1.6497
September	1.6650	1.6557	1.6618
October	1.6694	1.6531	1.6592
November	1.6617	1.6540	1.6579
December	1.6816	1.6537	1.6599