2011 VEF to ARS Historical Review

YEARLY HIGH

1.0021 ARS

YEARLY LOW

0.9235 ARS

YEARLY AVERAGE

0.9606 ARS

2011 VEF to ARS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the VEF to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 28, valuing the pair at 1.0021. Conversely, the yearly low was recorded on January 2, dropping to 0.9235.

This high-to-low spread represents a total annual volatility of 0.0786 ARS. From a start-to-finish perspective, comparing the January average rate of 0.9262 to the December average rate of 0.9980, the exchange rate registered a net change of 7.76% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 1.0021 was down 43.51% compared to the 2010 peak of 1.7740, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 5,010 ARS

2010 Average 4,672 ARS

Yearly Trough Low 4,617 ARS

Transaction Impact: A difference of 393.10 ARS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

1.0052

0.9190

JanuMarcMayJulySeptNove

VEF to ARS 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 0.9418, compared to 0.9794 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0377 points.

H1 Avg (Jan–Jun) 0.9418

H2 Avg (Jul–Dec) 0.9794

Volatility Range Comparison

Volatility

The most volatile month in 2011 was August, with a trading range of 0.0153 ARS (High: 0.9774 / Low: 0.9621). On the other end, September was the most stable month, with a tight range of 0.0040 ARS (High: 0.9803 / Low: 0.9763).

August Spread (Volatile) ±0.0153

September Spread (Stable) ±0.0040

Growth Streaks & Declines

Trends

Between January and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 11 straight months. No significant month-over-month rate declines were detected.

Longest Streak 11 Mo.

Sharpest MoM Drop -0.0000

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2011: 0.9980) against the same month in 2010 (average: 0.9253), the exchange rate shifted by +0.0727 (+7.86%).

2011 Avg (December) 0.9980

2010 Avg (December) 0.9253

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.9317	0.9235	0.9262
February	0.9380	0.9321	0.9358
March	0.9432	0.9361	0.9390
April	0.9503	0.9404	0.9461
May	0.9549	0.9486	0.9506
June	0.9562	0.9498	0.9530
July	0.9636	0.9528	0.9585
August	0.9774	0.9621	0.9692
September	0.9803	0.9763	0.9780
October	0.9864	0.9780	0.9818
November	0.9965	0.9863	0.9912
December	1.0021	0.9948	0.9980