2014 TOP to NGN Historical Review

YEARLY HIGH

93.8302 NGN

YEARLY LOW

82.6614 NGN

YEARLY AVERAGE

87.4942 NGN

2014 TOP to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the TOP to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 23, valuing the pair at 93.8302. Conversely, the yearly low was recorded on October 15, dropping to 82.6614.

This high-to-low spread represents a total annual volatility of 11.1688 NGN. From a start-to-finish perspective, comparing the January average rate of 85.9879 to the December average rate of 92.7089, the exchange rate registered a net change of 7.82% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 93.8302 was up 2.40% compared to the 2013 peak of 91.6285, 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 469,151 NGN

2013 Average 444,575 NGN

Yearly Trough Low 413,307 NGN

Transaction Impact: A difference of 55,844.08 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

93.5805

83.1207

JanuMarcMayJulySeptNove

TOP to NGN 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 87.6619, compared to 87.3264 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.3355 points.

H1 Avg (Jan–Jun) 87.6619

H2 Avg (Jul–Dec) 87.3264

Volatility Range Comparison

Volatility

The most volatile month in 2014 was November, with a trading range of 7.2663 NGN (High: 90.3884 / Low: 83.1221). On the other end, June was the most stable month, with a tight range of 1.5715 NGN (High: 88.2864 / Low: 86.7149).

November Spread (Volatile) ±7.2663

June Spread (Stable) ±1.5715

Growth Streaks & Declines

Trends

Between January and March, 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 1.6442 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -1.6442

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 92.7089) against the same month in 2013 (average: 85.6703), the exchange rate shifted by +7.0385 (+8.22%).

2014 Avg (December) 92.7089

2013 Avg (December) 85.6703

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	87.1912	85.1891	85.9879
February	88.8853	86.3258	87.6232
March	90.4445	88.0518	88.7581
April	89.6792	86.4142	88.5652
May	88.5005	85.6853	87.2684
June	88.2864	86.7149	87.7688
July	90.1836	86.8651	88.0767
August	88.9745	86.0114	87.2244
September	87.8860	83.8176	85.6366
October	84.6432	82.6614	83.9924
November	90.3884	83.1221	86.3197
December	93.8302	91.3413	92.7089