2012 VEF to ARS Historical Review

YEARLY HIGH

1.1449 ARS

YEARLY LOW

1.0008 ARS

YEARLY AVERAGE

1.0589 ARS

2012 VEF to ARS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2012

During 2012, the VEF to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 1.1449. Conversely, the yearly low was recorded on January 1, dropping to 1.0008.

This high-to-low spread represents a total annual volatility of 0.1441 ARS. From a start-to-finish perspective, comparing the January average rate of 1.0057 to the December average rate of 1.1364, the exchange rate registered a net change of 13.00% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2012 high of 1.1449 was up 14.25% compared to the 2011 peak of 1.0021, 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 5,724 ARS

2011 Average 4,804 ARS

Yearly Trough Low 5,004 ARS

Transaction Impact: A difference of 720.48 ARS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2012.

1.1494

0.9926

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 1.0222, compared to 1.0955 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0733 points.

H1 Avg (Jan–Jun) 1.0222

H2 Avg (Jul–Dec) 1.0955

Volatility Range Comparison

Volatility

The most volatile month in 2012 was June, with a trading range of 0.0219 ARS (High: 1.0513 / Low: 1.0295). On the other end, February was the most stable month, with a tight range of 0.0078 ARS (High: 1.0159 / Low: 1.0081).

June Spread (Volatile) ±0.0219

February Spread (Stable) ±0.0078

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 2012: 1.1364) against the same month in 2011 (average: 0.9980), the exchange rate shifted by +0.1383 (+13.86%).

2012 Avg (December) 1.1364

2011 Avg (December) 0.9980

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.0103	1.0008	1.0057
February	1.0159	1.0081	1.0121
March	1.0185	1.0095	1.0140
April	1.0278	1.0171	1.0232
May	1.0412	1.0276	1.0352
June	1.0513	1.0295	1.0431
July	1.0667	1.0506	1.0592
August	1.0794	1.0656	1.0729
September	1.0943	1.0792	1.0875
October	1.1103	1.0943	1.1006
November	1.1259	1.1099	1.1166
December	1.1449	1.1258	1.1364