2014 TOP to BGN Historical Review

YEARLY HIGH

0.8198 BGN

YEARLY LOW

0.7556 BGN

YEARLY AVERAGE

0.7813 BGN

2014 TOP to BGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the TOP to BGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 29, valuing the pair at 0.8198. Conversely, the yearly low was recorded on March 17, dropping to 0.7556.

This high-to-low spread represents a total annual volatility of 0.0642 BGN. From a start-to-finish perspective, comparing the January average rate of 0.7717 to the December average rate of 0.8093, the exchange rate registered a net change of 4.88% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 0.8198 was down 6.06% compared to the 2013 peak of 0.8727, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 4,099 BGN

2013 Average 4,117 BGN

Yearly Trough Low 3,778 BGN

Transaction Impact: A difference of 320.90 BGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

0.8140

0.7580

JanuMarcMayJulySeptNove

TOP to BGN 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 0.7697, compared to 0.7930 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0232 points.

H1 Avg (Jan–Jun) 0.7697

H2 Avg (Jul–Dec) 0.7930

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 0.0290 BGN (High: 0.8169 / Low: 0.7879). On the other end, February was the most stable month, with a tight range of 0.0126 BGN (High: 0.7747 / Low: 0.7621).

September Spread (Volatile) ±0.0290

February Spread (Stable) ±0.0126

Growth Streaks & Declines

Trends

Between May and September, 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 September and October, when the average rate fell by 0.0093 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0093

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 0.8093) against the same month in 2013 (average: 0.7692), the exchange rate shifted by +0.0401 (+5.22%).

2014 Avg (December) 0.8093

2013 Avg (December) 0.7692

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.7787	0.7633	0.7717
February	0.7747	0.7621	0.7666
March	0.7779	0.7556	0.7627
April	0.7832	0.7596	0.7738
May	0.7760	0.7598	0.7690
June	0.7798	0.7666	0.7746
July	0.7998	0.7761	0.7843
August	0.8028	0.7764	0.7910
September	0.8169	0.7879	0.7968
October	0.7998	0.7742	0.7875
November	0.8034	0.7827	0.7888
December	0.8198	0.7949	0.8093