2011 ERN to AOA Historical Review

YEARLY HIGH

95.2779 AOA

YEARLY LOW

92.4058 AOA

YEARLY AVERAGE

93.5470 AOA

2011 ERN to AOA Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the ERN to AOA exchange rate experienced significant fluctuation. The market reached its absolute peak on November 24, valuing the pair at 95.2779. Conversely, the yearly low was recorded on January 2, dropping to 92.4058.

This high-to-low spread represents a total annual volatility of 2.8721 AOA. From a start-to-finish perspective, comparing the January average rate of 92.7094 to the December average rate of 94.8281, the exchange rate registered a net change of 2.29% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 95.2779 was down 2.80% compared to the 2010 peak of 98.0238, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 476,390 AOA

2010 Average 458,820 AOA

Yearly Trough Low 462,029 AOA

Transaction Impact: A difference of 14,360.45 AOA purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

95.1789

92.4849

JanuMarcMayJulySeptNove

ERN to AOA 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 92.9894, compared to 94.1046 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 1.1152 points.

H1 Avg (Jan–Jun) 92.9894

H2 Avg (Jul–Dec) 94.1046

Volatility Range Comparison

Volatility

The most volatile month in 2011 was September, with a trading range of 1.3409 AOA (High: 94.5533 / Low: 93.2123). On the other end, December was the most stable month, with a tight range of 0.2016 AOA (High: 94.9745 / Low: 94.7728).

September Spread (Volatile) ±1.3409

December Spread (Stable) ±0.2016

Growth Streaks & Declines

Trends

Between June and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between November and December, when the average rate fell by 0.1264 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.1264

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2011: 94.9544) against the same month in 2010 (average: 92.0897), the exchange rate shifted by +2.8647 (+3.11%).

2011 Avg (November) 94.9544

2010 Avg (November) 92.0897

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	92.9621	92.4058	92.7094
February	93.2603	92.9326	93.0017
March	93.2636	92.9598	93.0174
April	93.2828	93.0151	93.0499
May	93.2802	92.9988	93.0908
June	93.3002	93.0215	93.0672
July	93.3095	93.0502	93.0938
August	93.2105	93.0007	93.1102
September	94.5533	93.2123	93.9100
October	94.9343	94.4675	94.7311
November	95.2779	94.8039	94.9544
December	94.9745	94.7728	94.8281