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2021 TOP to TND Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2021
During 2021, the TOP to TND exchange rate experienced significant fluctuation. The market reached its absolute peak on November 23, valuing the pair at 1.2786. Conversely, the yearly low was recorded on February 1, dropping to 1.1726.
This high-to-low spread represents a total annual volatility of 0.1061 TND. From a start-to-finish perspective, comparing the January average rate of 1.1828 to the December average rate of 1.2592, the exchange rate registered a net change of 6.46% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2021 high of 1.2786 was up 1.04% compared to the 2020 peak of 1.2654, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 TOP based on timing:
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TOP to TND Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: JanâJun) was 1.2048, compared to 1.2472 in the second half (H2: JulâDec). This shows that the rate was stronger in the second half (JulâDec) by a margin of 0.0424 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2021 was March, with a trading range of 0.0341 TND (High: 1.2199 / Low: 1.1857). On the other end, July was the most stable month, with a tight range of 0.0112 TND (High: 1.2390 / Low: 1.2278).
Growth Streaks & Declines
TrendsBetween August and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between November and December, when the average rate fell by 0.0053 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2021: 1.2645) against the same month in 2020 (average: 1.1938), the exchange rate shifted by +0.0707 (+5.92%).
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| Month | High | Low | Average |
|---|---|---|---|
| January | 1.1910 | 1.1761 | 1.1828 |
| February | 1.1953 | 1.1726 | 1.1819 |
| March | 1.2199 | 1.1857 | 1.2076 |
| April | 1.2240 | 1.2004 | 1.2138 |
| May | 1.2214 | 1.2074 | 1.2128 |
| June | 1.2369 | 1.2218 | 1.2302 |
| July | 1.2390 | 1.2278 | 1.2337 |
| August | 1.2371 | 1.2248 | 1.2316 |
| September | 1.2450 | 1.2333 | 1.2406 |
| October | 1.2630 | 1.2432 | 1.2537 |
| November | 1.2786 | 1.2540 | 1.2645 |
| December | 1.2643 | 1.2462 | 1.2592 |