2014 TOP to RON Historical Review

YEARLY HIGH

1.8744 RON

YEARLY LOW

1.7197 RON

YEARLY AVERAGE

1.7742 RON

2014 TOP to RON Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the TOP to RON exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 1.8744. Conversely, the yearly low was recorded on June 9, dropping to 1.7197.

This high-to-low spread represents a total annual volatility of 0.1547 RON. From a start-to-finish perspective, comparing the January average rate of 1.7827 to the December average rate of 1.8457, the exchange rate registered a net change of 3.53% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 1.8744 was down 4.84% compared to the 2013 peak of 1.9697, 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 9,372 RON

2013 Average 9,290 RON

Yearly Trough Low 8,599 RON

Transaction Impact: A difference of 773.53 RON purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

1.8566

1.7268

JanuMarcMayJulySeptNove

TOP to RON 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 1.7553, compared to 1.7930 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0378 points.

H1 Avg (Jan–Jun) 1.7553

H2 Avg (Jul–Dec) 1.7930

Volatility Range Comparison

Volatility

The most volatile month in 2014 was December, with a trading range of 0.0729 RON (High: 1.8744 / Low: 1.8015). On the other end, February was the most stable month, with a tight range of 0.0313 RON (High: 1.7744 / Low: 1.7431).

December Spread (Volatile) ±0.0729

February Spread (Stable) ±0.0313

Growth Streaks & Declines

Trends

Between May and September, 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 April and May, when the average rate fell by 0.0261 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0261

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 1.8457) against the same month in 2013 (average: 1.7534), the exchange rate shifted by +0.0924 (+5.27%).

2014 Avg (December) 1.8457

2013 Avg (December) 1.7534

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.8013	1.7474	1.7827
February	1.7744	1.7431	1.7587
March	1.7819	1.7388	1.7507
April	1.7867	1.7229	1.7638
May	1.7613	1.7214	1.7376
June	1.7533	1.7197	1.7380
July	1.8037	1.7411	1.7675
August	1.8176	1.7606	1.7882
September	1.8370	1.7738	1.7953
October	1.8063	1.7484	1.7766
November	1.8180	1.7689	1.7849
December	1.8744	1.8015	1.8457