2011 ARS to RSD Historical Review

YEARLY HIGH

20.6588 RSD

YEARLY LOW

16.2818 RSD

YEARLY AVERAGE

17.7281 RSD

2011 ARS to RSD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the ARS to RSD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 10, valuing the pair at 20.6588. Conversely, the yearly low was recorded on May 5, dropping to 16.2818.

This high-to-low spread represents a total annual volatility of 4.3770 RSD. From a start-to-finish perspective, comparing the January average rate of 19.7218 to the December average rate of 18.2351, the exchange rate registered a net change of -7.54% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2011 high of 20.6588 was down 6.56% compared to the 2010 peak of 22.1085, 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 103,294 RSD

2010 Average 99,272 RSD

Yearly Trough Low 81,409 RSD

Transaction Impact: A difference of 21,885.21 RSD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

20.0223

16.4163

JanuMarcMayJulySeptNove

ARS 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 17.9337, compared to 17.5225 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.4112 points.

H1 Avg (Jan–Jun) 17.9337

H2 Avg (Jul–Dec) 17.5225

Volatility Range Comparison

Volatility

The most volatile month in 2011 was January, with a trading range of 1.7005 RSD (High: 20.6588 / Low: 18.9583). On the other end, February was the most stable month, with a tight range of 0.4859 RSD (High: 18.9913 / Low: 18.5054).

January Spread (Volatile) ±1.7005

February Spread (Stable) ±0.4859

Growth Streaks & Declines

Trends

Between May and July, 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 March and April, when the average rate fell by 1.0154 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -1.0154

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2011: 19.7218) against the same month in 2010 (average: 17.8540), the exchange rate shifted by +1.8678 (+10.46%).

2011 Avg (January) 19.7218

2010 Avg (January) 17.8540

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	20.6588	18.9583	19.7218
February	18.9913	18.5054	18.7992
March	18.7058	17.8575	18.2467
April	17.9302	16.4014	17.2313
May	17.2474	16.2818	16.7168
June	17.4298	16.3230	16.8862
July	17.8058	16.8053	17.3217
August	17.4822	16.6741	17.0980
September	18.0602	16.6809	17.3966
October	18.2580	16.6314	17.3411
November	18.1884	17.1986	17.7425
December	18.9935	17.8950	18.2351