2010 TOP to ARS Historical Review

YEARLY HIGH

2.1731 ARS

YEARLY LOW

1.9184 ARS

YEARLY AVERAGE

2.0309 ARS

2010 TOP to ARS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2010

During 2010, the TOP to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 6, valuing the pair at 2.1731. Conversely, the yearly low was recorded on May 23, dropping to 1.9184.

This high-to-low spread represents a total annual volatility of 0.2547 ARS. From a start-to-finish perspective, comparing the January average rate of 2.0009 to the December average rate of 2.1229, the exchange rate registered a net change of 6.09% (reflecting a strengthening trend).

Transfer Payout Power Comparison

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

Yearly Peak High 10,865 ARS

Yearly Average 10,154 ARS

Yearly Trough Low 9,592 ARS

Transaction Impact: A difference of 1,273.59 ARS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2010.

2.1430

1.9462

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 1.9944, compared to 2.0674 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0731 points.

H1 Avg (Jan–Jun) 1.9944

H2 Avg (Jul–Dec) 2.0674

Volatility Range Comparison

Volatility

The most volatile month in 2010 was November, with a trading range of 0.0929 ARS (High: 2.1495 / Low: 2.0565). On the other end, October was the most stable month, with a tight range of 0.0330 ARS (High: 2.0963 / Low: 2.0632).

November Spread (Volatile) ±0.0929

October Spread (Stable) ±0.0330

Growth Streaks & Declines

Trends

Between May and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 6 straight months. Conversely, the sharpest month-over-month decline occurred between April and May, when the average rate fell by 0.0487 points.

Longest Streak 6 Mo.

Sharpest MoM Drop -0.0487

Same-Month Historical Baseline

YoY Baseline

Historical data for the previous year (2009) is currently unavailable. Strongest month average for December 2010 is 2.1229.

2010 Avg (December) 2.1229

Baseline Avg N/A

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.0335	1.9641	2.0009
February	2.0255	1.9686	1.9949
March	2.0649	1.9809	2.0096
April	2.0369	1.9827	2.0114
May	2.0070	1.9184	1.9626
June	2.0449	1.9705	1.9867
July	2.0413	1.9905	2.0117
August	2.0943	2.0078	2.0314
September	2.0709	2.0133	2.0314
October	2.0963	2.0632	2.0807
November	2.1495	2.0565	2.1266
December	2.1731	2.1045	2.1229