2018 TOP to GEL Historical Review

YEARLY HIGH

1.1845 GEL

YEARLY LOW

1.0475 GEL

YEARLY AVERAGE

1.0939 GEL

2018 TOP to GEL Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2018

During 2018, the TOP to GEL exchange rate experienced significant fluctuation. The market reached its absolute peak on December 14, valuing the pair at 1.1845. Conversely, the yearly low was recorded on July 3, dropping to 1.0475.

This high-to-low spread represents a total annual volatility of 0.1370 GEL. From a start-to-finish perspective, comparing the January average rate of 1.1382 to the December average rate of 1.1693, the exchange rate registered a net change of 2.72% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2018 high of 1.1845 was down 0.56% compared to the 2017 peak of 1.1912, 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 5,922 GEL

2017 Average 5,516 GEL

Yearly Trough Low 5,237 GEL

Transaction Impact: A difference of 685.03 GEL purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2018.

1.1804

1.0461

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 1.1006, compared to 1.0872 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0134 points.

H1 Avg (Jan–Jun) 1.1006

H2 Avg (Jul–Dec) 1.0872

Volatility Range Comparison

Volatility

The most volatile month in 2018 was November, with a trading range of 0.1002 GEL (High: 1.1625 / Low: 1.0623). On the other end, October was the most stable month, with a tight range of 0.0068 GEL (High: 1.0659 / Low: 1.0591).

November Spread (Volatile) ±0.1002

October Spread (Stable) ±0.0068

Growth Streaks & Declines

Trends

Between October and December, 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 January and February, when the average rate fell by 0.0274 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0274

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2018: 1.1693) against the same month in 2017 (average: 1.1469), the exchange rate shifted by +0.0224 (+1.95%).

2018 Avg (December) 1.1693

2017 Avg (December) 1.1469

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.1462	1.1140	1.1382
February	1.1223	1.0944	1.1108
March	1.1112	1.0898	1.1005
April	1.1114	1.0838	1.0964
May	1.1094	1.0589	1.0836
June	1.0816	1.0624	1.0741
July	1.0620	1.0475	1.0573
August	1.0745	1.0591	1.0681
September	1.0764	1.0591	1.0632
October	1.0659	1.0591	1.0621
November	1.1625	1.0623	1.1032
December	1.1845	1.1559	1.1693