2011 TOP to BGN Historical Review

YEARLY HIGH

0.8813 BGN

YEARLY LOW

0.7221 BGN

YEARLY AVERAGE

0.8023 BGN

2011 TOP to BGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the TOP to BGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 14, valuing the pair at 0.8813. Conversely, the yearly low was recorded on April 21, dropping to 0.7221.

This high-to-low spread represents a total annual volatility of 0.1592 BGN. From a start-to-finish perspective, comparing the January average rate of 0.7867 to the December average rate of 0.8555, the exchange rate registered a net change of 8.75% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 0.8813 was up 6.65% compared to the 2010 peak of 0.8264, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 4,406 BGN

2010 Average 3,834 BGN

Yearly Trough Low 3,611 BGN

Transaction Impact: A difference of 795.78 BGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

0.8672

0.7275

JanuMarcMayJulySeptNove

TOP to BGN 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 0.7675, compared to 0.8371 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0695 points.

H1 Avg (Jan–Jun) 0.7675

H2 Avg (Jul–Dec) 0.8371

Volatility Range Comparison

Volatility

The most volatile month in 2011 was July, with a trading range of 0.0662 BGN (High: 0.8499 / Low: 0.7838). On the other end, February was the most stable month, with a tight range of 0.0224 BGN (High: 0.7851 / Low: 0.7627).

July Spread (Volatile) ±0.0662

February Spread (Stable) ±0.0224

Growth Streaks & Declines

Trends

Between April and September, 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 February and March, when the average rate fell by 0.0201 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0201

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2011: 0.8555) against the same month in 2010 (average: 0.7901), the exchange rate shifted by +0.0654 (+8.28%).

2011 Avg (December) 0.8555

2010 Avg (December) 0.7901

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.8116	0.7685	0.7867
February	0.7851	0.7627	0.7732
March	0.7686	0.7386	0.7531
April	0.7573	0.7221	0.7391
May	0.7934	0.7405	0.7717
June	0.7972	0.7655	0.7814
July	0.8499	0.7838	0.8133
August	0.8548	0.8181	0.8333
September	0.8570	0.8272	0.8444
October	0.8621	0.8141	0.8317
November	0.8609	0.8223	0.8441
December	0.8813	0.8367	0.8555