2011 ARS to IRR Historical Review

YEARLY HIGH

2840.1173 IRR

YEARLY LOW

2133.6730 IRR

YEARLY AVERAGE

2550.6195 IRR

2011 ARS to IRR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the ARS to IRR exchange rate experienced significant fluctuation. The market reached its absolute peak on June 14, valuing the pair at 2840.1173. Conversely, the yearly low was recorded on December 1, dropping to 2133.6730.

This high-to-low spread represents a total annual volatility of 706.4442 IRR. From a start-to-finish perspective, comparing the January average rate of 2607.0083 to the December average rate of 2522.4160, the exchange rate registered a net change of -3.24% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2011 high of 2840.1173 was up 6.71% compared to the 2010 peak of 2661.6109, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 ARS based on timing:

Yearly Peak High 14,200,586 IRR

2010 Average 12,872,502 IRR

Yearly Trough Low 10,668,365 IRR

Transaction Impact: A difference of 3,532,221.13 IRR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

2697.5113

2317.8128

JanuMarcMayJulySeptNove

ARS to IRR 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 2593.2337, compared to 2508.0052 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 85.2285 points.

H1 Avg (Jan–Jun) 2593.2337

H2 Avg (Jul–Dec) 2508.0052

Volatility Range Comparison

Volatility

The most volatile month in 2011 was December, with a trading range of 458.6408 IRR (High: 2592.3138 / Low: 2133.6730). On the other end, April was the most stable month, with a tight range of 16.4551 IRR (High: 2575.7715 / Low: 2559.3163).

December Spread (Volatile) ±458.6408

April Spread (Stable) ±16.4551

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 October and November, when the average rate fell by 172.8888 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -172.8888

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (June 2011: 2665.8697) against the same month in 2010 (average: 2551.6575), the exchange rate shifted by +114.2122 (+4.48%).

2011 Avg (June) 2665.8697

2010 Avg (June) 2551.6575

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2616.4065	2592.9696	2607.0083
February	2591.4795	2562.2492	2575.3654
March	2571.5371	2550.9611	2561.5017
April	2575.7715	2559.3163	2568.4891
May	2599.5343	2549.0152	2581.1679
June	2840.1173	2588.1238	2665.8697
July	2601.6494	2547.9785	2572.7390
August	2556.2198	2526.0226	2540.6780
September	2561.0775	2515.9922	2540.4010
October	2549.2311	2493.5627	2522.3431
November	2561.9995	2138.1250	2349.4543
December	2592.3138	2133.6730	2522.4160