2012 TOP to HNL Historical Review

YEARLY HIGH

11.5822 HNL

YEARLY LOW

10.5451 HNL

YEARLY AVERAGE

11.1168 HNL

2012 TOP to HNL Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2012

During 2012, the TOP to HNL exchange rate experienced significant fluctuation. The market reached its absolute peak on November 16, valuing the pair at 11.5822. Conversely, the yearly low was recorded on July 16, dropping to 10.5451.

This high-to-low spread represents a total annual volatility of 1.0371 HNL. From a start-to-finish perspective, comparing the January average rate of 10.9375 to the December average rate of 11.4044, the exchange rate registered a net change of 4.27% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2012 high of 11.5822 was down 1.12% compared to the 2011 peak of 11.7135, 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 57,911 HNL

2011 Average 53,961 HNL

Yearly Trough Low 52,726 HNL

Transaction Impact: A difference of 5,185.40 HNL purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2012.

11.4798

10.5753

JanuMarcMayJulySeptNove

TOP to HNL 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 11.0364, compared to 11.1973 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1609 points.

H1 Avg (Jan–Jun) 11.0364

H2 Avg (Jul–Dec) 11.1973

Volatility Range Comparison

Volatility

The most volatile month in 2012 was May, with a trading range of 0.7790 HNL (High: 11.3773 / Low: 10.5983). On the other end, June was the most stable month, with a tight range of 0.0917 HNL (High: 10.6952 / Low: 10.6036).

May Spread (Volatile) ±0.7790

June Spread (Stable) ±0.0917

Growth Streaks & Declines

Trends

Between June and December, 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 0.3360 points.

Longest Streak 6 Mo.

Sharpest MoM Drop -0.3360

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2012: 11.3841) against the same month in 2011 (average: 11.0785), the exchange rate shifted by +0.3056 (+2.76%).

2012 Avg (November) 11.3841

2011 Avg (November) 11.0785

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	11.1935	10.8214	10.9375
February	11.3548	11.1524	11.2631
March	11.3748	11.1644	11.3009
April	11.3069	11.1400	11.2010
May	11.3773	10.5983	10.8650
June	10.6952	10.6036	10.6506
July	11.1108	10.5451	10.7261
August	11.2143	10.9261	11.1132
September	11.4406	11.0294	11.2521
October	11.4128	11.1694	11.3037
November	11.5822	11.1030	11.3841
December	11.4932	11.2226	11.4044