2018 TOP to RSD Historical Review

YEARLY HIGH

46.5288 RSD

YEARLY LOW

42.4709 RSD

YEARLY AVERAGE

44.0784 RSD

2018 TOP to RSD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2018

During 2018, the TOP to RSD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 14, valuing the pair at 46.5288. Conversely, the yearly low was recorded on February 15, dropping to 42.4709.

This high-to-low spread represents a total annual volatility of 4.0579 RSD. From a start-to-finish perspective, comparing the January average rate of 43.2677 to the December average rate of 45.6537, the exchange rate registered a net change of 5.51% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2018 high of 46.5288 was down 11.08% compared to the 2017 peak of 52.3268, 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 232,644 RSD

2017 Average 237,496 RSD

Yearly Trough Low 212,354 RSD

Transaction Impact: A difference of 20,289.70 RSD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2018.

45.9080

42.8558

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 43.5595, compared to 44.5973 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 1.0378 points.

H1 Avg (Jan–Jun) 43.5595

H2 Avg (Jul–Dec) 44.5973

Volatility Range Comparison

Volatility

The most volatile month in 2018 was May, with a trading range of 1.5723 RSD (High: 45.0309 / Low: 43.4585). On the other end, March was the most stable month, with a tight range of 0.5755 RSD (High: 43.3581 / Low: 42.7825).

May Spread (Volatile) ±1.5723

March Spread (Stable) ±0.5755

Growth Streaks & Declines

Trends

Between March and June, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.6513 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.6513

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2018: 45.6537) against the same month in 2017 (average: 43.8983), the exchange rate shifted by +1.7553 (+4.00%).

2018 Avg (December) 45.6537

2017 Avg (December) 43.8983

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	44.1022	42.5623	43.2677
February	43.7710	42.4709	43.2802
March	43.3581	42.7825	43.1102
April	44.0811	42.8467	43.3033
May	45.0309	43.4585	44.1373
June	44.9178	43.7915	44.2583
July	43.9282	43.2505	43.6070
August	45.0170	43.7203	44.2924
September	44.3256	43.4293	43.9424
October	45.3971	44.2520	44.7288
November	45.6972	45.0053	45.3593
December	46.5288	45.1517	45.6537