2014 TOP to BRL Historical Review

YEARLY HIGH

1.3861 BRL

YEARLY LOW

1.1881 BRL

YEARLY AVERAGE

1.2461 BRL

2014 TOP to BRL Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the TOP to BRL exchange rate experienced significant fluctuation. The market reached its absolute peak on December 16, valuing the pair at 1.3861. Conversely, the yearly low was recorded on June 10, dropping to 1.1881.

This high-to-low spread represents a total annual volatility of 0.1980 BRL. From a start-to-finish perspective, comparing the January average rate of 1.2774 to the December average rate of 1.3475, the exchange rate registered a net change of 5.49% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 1.3861 was up 5.37% compared to the 2013 peak of 1.3154, 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 6,931 BRL

2013 Average 6,019 BRL

Yearly Trough Low 5,940 BRL

Transaction Impact: A difference of 990.15 BRL purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

1.3624

1.1836

JanuMarcMayJulySeptNove

TOP to BRL 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 1.2373, compared to 1.2548 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0175 points.

H1 Avg (Jan–Jun) 1.2373

H2 Avg (Jul–Dec) 1.2548

Volatility Range Comparison

Volatility

The most volatile month in 2014 was December, with a trading range of 0.0950 BRL (High: 1.3861 / Low: 1.2911). On the other end, May was the most stable month, with a tight range of 0.0311 BRL (High: 1.2199 / Low: 1.1888).

December Spread (Volatile) ±0.0950

May Spread (Stable) ±0.0311

Growth Streaks & Declines

Trends

Between May and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 7 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.0340 points.

Longest Streak 7 Mo.

Sharpest MoM Drop -0.0340

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 1.3475) against the same month in 2013 (average: 1.2634), the exchange rate shifted by +0.0841 (+6.66%).

2014 Avg (December) 1.3475

2013 Avg (December) 1.2634

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.3046	1.2616	1.2774
February	1.2942	1.2456	1.2740
March	1.2801	1.2217	1.2531
April	1.2429	1.1982	1.2191
May	1.2199	1.1888	1.1985
June	1.2200	1.1881	1.2018
July	1.2348	1.1975	1.2070
August	1.2411	1.1979	1.2199
September	1.2565	1.1920	1.2251
October	1.2763	1.2201	1.2490
November	1.3146	1.2543	1.2806
December	1.3861	1.2911	1.3475