2022 TOP to BGN Historical Review

YEARLY HIGH

0.8415 BGN

YEARLY LOW

0.7489 BGN

YEARLY AVERAGE

0.7975 BGN

2022 TOP to BGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2022

During 2022, the TOP to BGN exchange rate experienced significant fluctuation. The market reached its absolute peak on September 25, valuing the pair at 0.8415. Conversely, the yearly low was recorded on January 13, dropping to 0.7489.

This high-to-low spread represents a total annual volatility of 0.0926 BGN. From a start-to-finish perspective, comparing the January average rate of 0.7593 to the December average rate of 0.7877, the exchange rate registered a net change of 3.74% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2022 high of 0.8415 was up 9.35% compared to the 2021 peak of 0.7695, 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 4,207 BGN

2021 Average 3,651 BGN

Yearly Trough Low 3,744 BGN

Transaction Impact: A difference of 462.93 BGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2022.

0.8345

0.7525

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 0.7822, compared to 0.8129 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0306 points.

H1 Avg (Jan–Jun) 0.7822

H2 Avg (Jul–Dec) 0.8129

Volatility Range Comparison

Volatility

The most volatile month in 2022 was November, with a trading range of 0.0418 BGN (High: 0.8306 / Low: 0.7888). On the other end, February was the most stable month, with a tight range of 0.0166 BGN (High: 0.7685 / Low: 0.7519).

November Spread (Volatile) ±0.0418

February Spread (Stable) ±0.0166

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 October and November, when the average rate fell by 0.0146 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0146

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (September 2022: 0.8277) against the same month in 2021 (average: 0.7372), the exchange rate shifted by +0.0905 (+12.27%).

2022 Avg (September) 0.8277

2021 Avg (September) 0.7372

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.7718	0.7489	0.7593
February	0.7685	0.7519	0.7602
March	0.7949	0.7703	0.7849
April	0.8077	0.7865	0.7967
May	0.8076	0.7874	0.7966
June	0.8061	0.7893	0.7956
July	0.8284	0.8012	0.8165
August	0.8402	0.8120	0.8268
September	0.8415	0.8171	0.8277
October	0.8254	0.7997	0.8166
November	0.8306	0.7888	0.8020
December	0.8000	0.7798	0.7877