2012 LTL to ARS Historical Review

YEARLY HIGH

1.8848 ARS

YEARLY LOW

1.5812 ARS

YEARLY AVERAGE

1.6929 ARS

2012 LTL to ARS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2012

During 2012, the LTL to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 27, valuing the pair at 1.8848. Conversely, the yearly low was recorded on January 16, dropping to 1.5812.

This high-to-low spread represents a total annual volatility of 0.3036 ARS. From a start-to-finish perspective, comparing the January average rate of 1.6140 to the December average rate of 1.8535, the exchange rate registered a net change of 14.84% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2012 high of 1.8848 was up 7.20% compared to the 2011 peak of 1.7583, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 9,424 ARS

2011 Average 8,319 ARS

Yearly Trough Low 7,906 ARS

Transaction Impact: A difference of 1,518.15 ARS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2012.

1.8775

1.5900

JanuMarcMayJulySeptNove

LTL 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 1.6489, compared to 1.7370 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0881 points.

H1 Avg (Jan–Jun) 1.6489

H2 Avg (Jul–Dec) 1.7370

Volatility Range Comparison

Volatility

The most volatile month in 2012 was May, with a trading range of 0.0865 ARS (High: 1.6908 / Low: 1.6043). On the other end, April was the most stable month, with a tight range of 0.0335 ARS (High: 1.6920 / Low: 1.6585).

May Spread (Volatile) ±0.0865

April Spread (Stable) ±0.0335

Growth Streaks & Declines

Trends

Between July and December, 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 April and May, when the average rate fell by 0.0258 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0258

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2012: 1.8535) against the same month in 2011 (average: 1.6357), the exchange rate shifted by +0.2179 (+13.32%).

2012 Avg (December) 1.8535

2011 Avg (December) 1.6357

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.6543	1.5812	1.6140
February	1.6955	1.6391	1.6646
March	1.6891	1.6447	1.6655
April	1.6920	1.6585	1.6750
May	1.6908	1.6043	1.6492
June	1.6514	1.5970	1.6251
July	1.6517	1.5979	1.6192
August	1.6883	1.6257	1.6533
September	1.7730	1.6877	1.7394
October	1.7949	1.7526	1.7757
November	1.8174	1.7573	1.7808
December	1.8848	1.8187	1.8535