2011 KMF to ARS Historical Review

YEARLY HIGH

0.0123 ARS

YEARLY LOW

0.0104 ARS

YEARLY AVERAGE

0.0117 ARS

2011 KMF to ARS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the KMF to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on May 4, valuing the pair at 0.0123. Conversely, the yearly low was recorded on January 10, dropping to 0.0104.

This high-to-low spread represents a total annual volatility of 0.0019 ARS. From a start-to-finish perspective, comparing the January average rate of 0.0108 to the December average rate of 0.0115, the exchange rate registered a net change of 6.15% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 0.0123 was up 7.74% compared to the 2010 peak of 0.0115, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 62 ARS

2010 Average 53 ARS

Yearly Trough Low 52 ARS

Transaction Impact: A difference of 9.55 ARS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

0.0123

0.0107

JanuMarcMayJulySeptNove

KMF 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 0.0115, compared to 0.0118 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0003 points.

H1 Avg (Jan–Jun) 0.0115

H2 Avg (Jul–Dec) 0.0118

Volatility Range Comparison

Volatility

The most volatile month in 2011 was October, with a trading range of 0.0009 ARS (High: 0.0122 / Low: 0.0113). On the other end, February was the most stable month, with a tight range of 0.0003 ARS (High: 0.0113 / Low: 0.0110).

October Spread (Volatile) ±0.0009

February Spread (Stable) ±0.0003

Growth Streaks & Declines

Trends

Between January and April, 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 August and September, when the average rate fell by 0.0004 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0004

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2011: 0.0119) against the same month in 2010 (average: 0.0100), the exchange rate shifted by +0.0019 (+19.38%).

2011 Avg (May) 0.0119

2010 Avg (May) 0.0100

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0111	0.0104	0.0108
February	0.0113	0.0110	0.0112
March	0.0117	0.0113	0.0115
April	0.0123	0.0117	0.0119
May	0.0123	0.0116	0.0119
June	0.0122	0.0117	0.0120
July	0.0122	0.0116	0.0120
August	0.0123	0.0119	0.0121
September	0.0122	0.0115	0.0118
October	0.0122	0.0113	0.0118
November	0.0119	0.0115	0.0117
December	0.0117	0.0113	0.0115