2011 PEN to ARS Historical Review

YEARLY HIGH

1.5949 ARS

YEARLY LOW

1.4152 ARS

YEARLY AVERAGE

1.4986 ARS

2011 PEN to ARS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the PEN to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 1.5949. Conversely, the yearly low was recorded on January 2, dropping to 1.4152.

This high-to-low spread represents a total annual volatility of 0.1797 ARS. From a start-to-finish perspective, comparing the January average rate of 1.4270 to the December average rate of 1.5891, the exchange rate registered a net change of 11.36% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 1.5949 was up 20.19% compared to the 2010 peak of 1.3270, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 7,975 ARS

2010 Average 6,508 ARS

Yearly Trough Low 7,076 ARS

Transaction Impact: A difference of 898.68 ARS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

1.6053

1.4108

JanuMarcMayJulySeptNove

PEN 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 1.4540, compared to 1.5433 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0893 points.

H1 Avg (Jan–Jun) 1.4540

H2 Avg (Jul–Dec) 1.5433

Volatility Range Comparison

Volatility

The most volatile month in 2011 was October, with a trading range of 0.0515 ARS (High: 1.5646 / Low: 1.5131). On the other end, February was the most stable month, with a tight range of 0.0099 ARS (High: 1.4539 / Low: 1.4440).

October Spread (Volatile) ±0.0515

February Spread (Stable) ±0.0099

Growth Streaks & Declines

Trends

Between April and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 8 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.0085 points.

Longest Streak 8 Mo.

Sharpest MoM Drop -0.0085

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2011: 1.5891) against the same month in 2010 (average: 1.3231), the exchange rate shifted by +0.2660 (+20.10%).

2011 Avg (December) 1.5891

2010 Avg (December) 1.3231

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.4416	1.4152	1.4270
February	1.4539	1.4440	1.4499
March	1.4573	1.4361	1.4520
April	1.4501	1.4385	1.4435
May	1.4859	1.4369	1.4701
June	1.4905	1.4665	1.4814
July	1.5111	1.4918	1.5020
August	1.5381	1.5059	1.5199
September	1.5443	1.5128	1.5320
October	1.5646	1.5131	1.5431
November	1.5820	1.5624	1.5734
December	1.5949	1.5833	1.5891