2011 TOP to RON Historical Review

YEARLY HIGH

1.9568 RON

YEARLY LOW

1.5091 RON

YEARLY AVERAGE

1.7398 RON

2011 TOP to RON Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the TOP to RON exchange rate experienced significant fluctuation. The market reached its absolute peak on December 14, valuing the pair at 1.9568. Conversely, the yearly low was recorded on April 21, dropping to 1.5091.

This high-to-low spread represents a total annual volatility of 0.4477 RON. From a start-to-finish perspective, comparing the January average rate of 1.7155 to the December average rate of 1.8926, the exchange rate registered a net change of 10.32% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 1.9568 was up 7.61% compared to the 2010 peak of 1.8184, 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 9,784 RON

2010 Average 8,257 RON

Yearly Trough Low 7,545 RON

Transaction Impact: A difference of 2,238.58 RON purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

1.9269

1.5150

JanuMarcMayJulySeptNove

TOP to RON 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 1.6406, compared to 1.8389 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1983 points.

H1 Avg (Jan–Jun) 1.6406

H2 Avg (Jul–Dec) 1.8389

Volatility Range Comparison

Volatility

The most volatile month in 2011 was July, with a trading range of 0.1645 RON (High: 1.8449 / Low: 1.6804). On the other end, February was the most stable month, with a tight range of 0.0634 RON (High: 1.7046 / Low: 1.6413).

July Spread (Volatile) ±0.1645

February Spread (Stable) ±0.0634

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 0.0765 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0765

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2011: 1.8926) against the same month in 2010 (average: 1.7345), the exchange rate shifted by +0.1581 (+9.11%).

2011 Avg (December) 1.8926

2010 Avg (December) 1.7345

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.7680	1.6775	1.7155
February	1.7046	1.6413	1.6782
March	1.6520	1.5546	1.6017
April	1.5857	1.5091	1.5493
May	1.6720	1.5464	1.6245
June	1.7244	1.6245	1.6745
July	1.8449	1.6804	1.7623
August	1.8532	1.7757	1.8120
September	1.8868	1.7998	1.8486
October	1.9029	1.7940	1.8384
November	1.9212	1.8343	1.8797
December	1.9568	1.8627	1.8926