2021 TOP to ARS Historical Review

YEARLY HIGH

45.1451 ARS

YEARLY LOW

37.0423 ARS

YEARLY AVERAGE

41.9535 ARS

2021 TOP to ARS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2021

During 2021, the TOP to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 45.1451. Conversely, the yearly low was recorded on January 3, dropping to 37.0423.

This high-to-low spread represents a total annual volatility of 8.1028 ARS. From a start-to-finish perspective, comparing the January average rate of 37.6566 to the December average rate of 44.5765, the exchange rate registered a net change of 18.38% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2021 high of 45.1451 was up 22.11% compared to the 2020 peak of 36.9707, 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 225,725 ARS

2020 Average 153,401 ARS

Yearly Trough Low 185,211 ARS

Transaction Impact: A difference of 40,513.98 ARS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2021.

45.2684

36.9646

JanuMarcMayJulySeptNove

TOP to ARS 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 40.2142, compared to 43.6929 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 3.4787 points.

H1 Avg (Jan–Jun) 40.2142

H2 Avg (Jul–Dec) 43.6929

Volatility Range Comparison

Volatility

The most volatile month in 2021 was February, with a trading range of 1.4995 ARS (High: 39.5480 / Low: 38.0484). On the other end, July was the most stable month, with a tight range of 0.4056 ARS (High: 42.7493 / Low: 42.3438).

February Spread (Volatile) ±1.4995

July Spread (Stable) ±0.4056

Growth Streaks & Declines

Trends

Between January and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 11 straight months. No significant month-over-month rate declines were detected.

Longest Streak 11 Mo.

Sharpest MoM Drop -0.0000

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2021: 44.5765) against the same month in 2020 (average: 36.1527), the exchange rate shifted by +8.4238 (+23.30%).

2021 Avg (December) 44.5765

2020 Avg (December) 36.1527

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	38.0727	37.0423	37.6566
February	39.5480	38.0484	38.6418
March	40.3958	39.2585	39.9215
April	41.3613	39.8906	40.7060
May	42.3975	41.1872	41.7614
June	42.8036	42.2410	42.5979
July	42.7493	42.3438	42.6026
August	43.2580	42.5236	42.9205
September	43.7494	43.3407	43.6086
October	44.6481	43.4323	44.0158
November	44.6507	44.1694	44.4334
December	45.1451	44.1825	44.5765

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