2011 TOP to VEF Historical Review

YEARLY HIGH

2.6690 VEF

YEARLY LOW

2.2761 VEF

YEARLY AVERAGE

2.4510 VEF

2011 TOP to VEF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the TOP to VEF exchange rate experienced significant fluctuation. The market reached its absolute peak on August 10, valuing the pair at 2.6690. Conversely, the yearly low was recorded on January 13, dropping to 2.2761.

This high-to-low spread represents a total annual volatility of 0.3930 VEF. From a start-to-finish perspective, comparing the January average rate of 2.3094 to the December average rate of 2.4744, the exchange rate registered a net change of 7.15% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 2.6690 was up 13.78% compared to the 2010 peak of 2.3459, 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 13,345 VEF

2010 Average 11,002 VEF

Yearly Trough Low 11,380 VEF

Transaction Impact: A difference of 1,964.89 VEF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

2.6545

2.2780

JanuMarcMayJulySeptNove

TOP to VEF 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 2.3650, compared to 2.5371 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1721 points.

H1 Avg (Jan–Jun) 2.3650

H2 Avg (Jul–Dec) 2.5371

Volatility Range Comparison

Volatility

The most volatile month in 2011 was July, with a trading range of 0.1706 VEF (High: 2.6614 / Low: 2.4908). On the other end, February was the most stable month, with a tight range of 0.0079 VEF (High: 2.3204 / Low: 2.3126).

July Spread (Volatile) ±0.1706

February Spread (Stable) ±0.0079

Growth Streaks & Declines

Trends

Between March and August, 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 August and September, when the average rate fell by 0.0668 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0668

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2011: 2.6231) against the same month in 2010 (average: 2.2171), the exchange rate shifted by +0.4060 (+18.31%).

2011 Avg (August) 2.6231

2010 Avg (August) 2.2171

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.3200	2.2761	2.3094
February	2.3204	2.3126	2.3174
March	2.3316	2.3049	2.3150
April	2.4192	2.3061	2.3463
May	2.4466	2.4192	2.4334
June	2.4951	2.4538	2.4682
July	2.6614	2.4908	2.5509
August	2.6690	2.5995	2.6231
September	2.6380	2.4696	2.5563
October	2.5490	2.4498	2.5057
November	2.5511	2.4080	2.5121
December	2.5139	2.4479	2.4744