2014 TOP to GEL Historical Review

YEARLY HIGH

0.9807 GEL

YEARLY LOW

0.8773 GEL

YEARLY AVERAGE

0.9333 GEL

2014 TOP to GEL Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the TOP to GEL exchange rate experienced significant fluctuation. The market reached its absolute peak on July 13, valuing the pair at 0.9807. Conversely, the yearly low was recorded on November 10, dropping to 0.8773.

This high-to-low spread represents a total annual volatility of 0.1034 GEL. From a start-to-finish perspective, comparing the January average rate of 0.9468 to the December average rate of 0.9078, the exchange rate registered a net change of -4.11% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2014 high of 0.9807 was up 1.95% compared to the 2013 peak of 0.9620, 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 4,903 GEL

2013 Average 4,648 GEL

Yearly Trough Low 4,387 GEL

Transaction Impact: A difference of 516.92 GEL purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

0.9672

0.8847

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 0.9483, compared to 0.9183 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0300 points.

H1 Avg (Jan–Jun) 0.9483

H2 Avg (Jul–Dec) 0.9183

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 0.0484 GEL (High: 0.9475 / Low: 0.8991). On the other end, February was the most stable month, with a tight range of 0.0148 GEL (High: 0.9445 / Low: 0.9297).

September Spread (Volatile) ±0.0484

February Spread (Stable) ±0.0148

Growth Streaks & Declines

Trends

Between February and April, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 0.0233 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0233

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (July 2014: 0.9556) against the same month in 2013 (average: 0.8970), the exchange rate shifted by +0.0586 (+6.53%).

2014 Avg (July) 0.9556

2013 Avg (July) 0.8970

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.9611	0.9370	0.9468
February	0.9445	0.9297	0.9374
March	0.9607	0.9364	0.9427
April	0.9743	0.9487	0.9603
May	0.9700	0.9455	0.9515
June	0.9564	0.9405	0.9511
July	0.9807	0.9356	0.9556
August	0.9555	0.9235	0.9383
September	0.9475	0.8991	0.9198
October	0.9063	0.8900	0.8965
November	0.9207	0.8773	0.8916
December	0.9273	0.8942	0.9078