2011 TOP to BRL Historical Review

YEARLY HIGH

1.1037 BRL

YEARLY LOW

0.8423 BRL

YEARLY AVERAGE

0.9548 BRL

2011 TOP to BRL Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the TOP to BRL exchange rate experienced significant fluctuation. The market reached its absolute peak on September 24, valuing the pair at 1.1037. Conversely, the yearly low was recorded on April 21, dropping to 0.8423.

This high-to-low spread represents a total annual volatility of 0.2614 BRL. From a start-to-finish perspective, comparing the January average rate of 0.9006 to the December average rate of 1.0575, the exchange rate registered a net change of 17.42% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 1.1037 was up 12.12% compared to the 2010 peak of 0.9844, 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 5,518 BRL

2010 Average 4,569 BRL

Yearly Trough Low 4,212 BRL

Transaction Impact: A difference of 1,306.76 BRL purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

1.0768

0.8456

JanuMarcMayJulySeptNove

TOP to BRL 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 0.8974, compared to 1.0122 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1148 points.

H1 Avg (Jan–Jun) 0.8974

H2 Avg (Jul–Dec) 1.0122

Volatility Range Comparison

Volatility

The most volatile month in 2011 was September, with a trading range of 0.1212 BRL (High: 1.1037 / Low: 0.9825). On the other end, February was the most stable month, with a tight range of 0.0097 BRL (High: 0.9045 / Low: 0.8948).

September Spread (Volatile) ±0.1212

February Spread (Stable) ±0.0097

Growth Streaks & Declines

Trends

Between June and September, 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 March and April, when the average rate fell by 0.0289 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0289

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (September 2011: 1.0337) against the same month in 2010 (average: 0.8847), the exchange rate shifted by +0.1490 (+16.84%).

2011 Avg (September) 1.0337

2010 Avg (September) 0.8847

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.9088	0.8834	0.9006
February	0.9045	0.8948	0.8992
March	0.9014	0.8755	0.8938
April	0.8859	0.8423	0.8649
May	0.9297	0.8859	0.9132
June	0.9255	0.9038	0.9124
July	0.9679	0.9056	0.9281
August	1.0024	0.9581	0.9758
September	1.1037	0.9825	1.0337
October	1.0975	0.9965	1.0326
November	1.0843	1.0260	1.0454
December	1.0963	1.0346	1.0575