2014 TOP to RSD Historical Review

YEARLY HIGH

50.8147 RSD

YEARLY LOW

44.7356 RSD

YEARLY AVERAGE

46.8187 RSD

2014 TOP to RSD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the TOP to RSD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 29, valuing the pair at 50.8147. Conversely, the yearly low was recorded on March 18, dropping to 44.7356.

This high-to-low spread represents a total annual volatility of 6.0791 RSD. From a start-to-finish perspective, comparing the January average rate of 45.5036 to the December average rate of 50.2833, the exchange rate registered a net change of 10.50% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 50.8147 was up 1.74% compared to the 2013 peak of 49.9435, 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 254,074 RSD

2013 Average 237,734 RSD

Yearly Trough Low 223,678 RSD

Transaction Impact: A difference of 30,395.58 RSD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

50.8025

44.5714

JanuMarcMayJulySeptNove

TOP to RSD 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 45.4686, compared to 48.1688 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 2.7002 points.

H1 Avg (Jan–Jun) 45.4686

H2 Avg (Jul–Dec) 48.1688

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 2.2038 RSD (High: 49.6585 / Low: 47.4547). On the other end, June was the most stable month, with a tight range of 0.7138 RSD (High: 46.0016 / Low: 45.2878).

September Spread (Volatile) ±2.2038

June Spread (Stable) ±0.7138

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 September and October, when the average rate fell by 0.3065 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.3065

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 50.2833) against the same month in 2013 (average: 45.0795), the exchange rate shifted by +5.2038 (+11.54%).

2014 Avg (December) 50.2833

2013 Avg (December) 45.0795

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	45.9555	44.7457	45.5036
February	45.8518	45.0739	45.3731
March	45.9426	44.7356	45.0906
April	46.1854	44.8731	45.6851
May	46.0096	44.8424	45.4394
June	46.0016	45.2878	45.7198
July	47.4142	45.9560	46.5997
August	48.3526	46.5694	47.4562
September	49.6585	47.4547	48.3125
October	48.6715	47.2379	48.0061
November	49.4613	47.8388	48.3552
December	50.8147	49.0286	50.2833