2011 TOP to GEL Historical Review

YEARLY HIGH

1.0280 GEL

YEARLY LOW

0.8855 GEL

YEARLY AVERAGE

0.9610 GEL

2011 TOP to GEL Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the TOP to GEL exchange rate experienced significant fluctuation. The market reached its absolute peak on August 10, valuing the pair at 1.0280. Conversely, the yearly low was recorded on April 25, dropping to 0.8855.

This high-to-low spread represents a total annual volatility of 0.1425 GEL. From a start-to-finish perspective, comparing the January average rate of 0.9655 to the December average rate of 0.9563, the exchange rate registered a net change of -0.95% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2011 high of 1.0280 was up 4.66% compared to the 2010 peak of 0.9822, 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 5,140 GEL

2010 Average 4,642 GEL

Yearly Trough Low 4,428 GEL

Transaction Impact: A difference of 712.40 GEL purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

1.0172

0.8991

JanuMarcMayJulySeptNove

TOP 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 0.9423, compared to 0.9797 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0374 points.

H1 Avg (Jan–Jun) 0.9423

H2 Avg (Jul–Dec) 0.9797

Volatility Range Comparison

Volatility

The most volatile month in 2011 was September, with a trading range of 0.0636 GEL (High: 1.0193 / Low: 0.9557). On the other end, December was the most stable month, with a tight range of 0.0255 GEL (High: 0.9696 / Low: 0.9442).

September Spread (Volatile) ±0.0636

December Spread (Stable) ±0.0255

Growth Streaks & Declines

Trends

Between April and August, 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 February and March, when the average rate fell by 0.0349 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0349

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2011: 1.0073) against the same month in 2010 (average: 0.9498), the exchange rate shifted by +0.0575 (+6.05%).

2011 Avg (August) 1.0073

2010 Avg (August) 0.9498

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.9762	0.9485	0.9655
February	0.9724	0.9390	0.9570
March	0.9384	0.9111	0.9221
April	0.9248	0.8855	0.9089
May	0.9596	0.9226	0.9494
June	0.9658	0.9385	0.9506
July	1.0242	0.9649	0.9888
August	1.0280	0.9954	1.0073
September	1.0193	0.9557	0.9888
October	0.9837	0.9435	0.9676
November	0.9870	0.9291	0.9694
December	0.9696	0.9442	0.9563