2011 HNL to ARS Historical Review

YEARLY HIGH

0.2268 ARS

YEARLY LOW

0.2099 ARS

YEARLY AVERAGE

0.2182 ARS

2011 HNL to ARS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the HNL to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 29, valuing the pair at 0.2268. Conversely, the yearly low was recorded on January 2, dropping to 0.2099.

This high-to-low spread represents a total annual volatility of 0.0169 ARS. From a start-to-finish perspective, comparing the January average rate of 0.2103 to the December average rate of 0.2261, the exchange rate registered a net change of 7.51% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 0.2268 was up 7.61% compared to the 2010 peak of 0.2107, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 1,134 ARS

2010 Average 1,033 ARS

Yearly Trough Low 1,049 ARS

Transaction Impact: A difference of 84.48 ARS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

0.2277

0.2087

JanuMarcMayJulySeptNove

HNL 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 0.2139, compared to 0.2226 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0087 points.

H1 Avg (Jan–Jun) 0.2139

H2 Avg (Jul–Dec) 0.2226

Volatility Range Comparison

Volatility

The most volatile month in 2011 was August, with a trading range of 0.0034 ARS (High: 0.2227 / Low: 0.2193). On the other end, December was the most stable month, with a tight range of 0.0012 ARS (High: 0.2268 / Low: 0.2256).

August Spread (Volatile) ±0.0034

December Spread (Stable) ±0.0012

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 2011: 0.2261) against the same month in 2010 (average: 0.2101), the exchange rate shifted by +0.0160 (+7.62%).

2011 Avg (December) 0.2261

2010 Avg (December) 0.2101

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.2115	0.2099	0.2103
February	0.2131	0.2116	0.2125
March	0.2141	0.2127	0.2133
April	0.2158	0.2137	0.2149
May	0.2170	0.2154	0.2159
June	0.2172	0.2157	0.2165
July	0.2196	0.2163	0.2178
August	0.2227	0.2193	0.2213
September	0.2235	0.2219	0.2226
October	0.2234	0.2221	0.2227
November	0.2259	0.2233	0.2248
December	0.2268	0.2256	0.2261