2011 TND to ARS Historical Review

YEARLY HIGH

3.0816 ARS

YEARLY LOW

2.7042 ARS

YEARLY AVERAGE

2.9345 ARS

2011 TND to ARS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the TND to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on August 29, valuing the pair at 3.0816. Conversely, the yearly low was recorded on January 10, dropping to 2.7042.

This high-to-low spread represents a total annual volatility of 0.3773 ARS. From a start-to-finish perspective, comparing the January average rate of 2.7734 to the December average rate of 2.8916, the exchange rate registered a net change of 4.26% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 3.0816 was up 5.26% compared to the 2010 peak of 2.9275, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 15,408 ARS

2010 Average 13,670 ARS

Yearly Trough Low 13,521 ARS

Transaction Impact: A difference of 1,886.67 ARS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

3.0555

2.7478

JanuMarcMayJulySeptNove

TND 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 2.9038, compared to 2.9652 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0614 points.

H1 Avg (Jan–Jun) 2.9038

H2 Avg (Jul–Dec) 2.9652

Volatility Range Comparison

Volatility

The most volatile month in 2011 was October, with a trading range of 0.1724 ARS (High: 3.0533 / Low: 2.8809). On the other end, February was the most stable month, with a tight range of 0.0528 ARS (High: 2.8653 / Low: 2.8125).

October Spread (Volatile) ±0.1724

February Spread (Stable) ±0.0528

Growth Streaks & Declines

Trends

Between January and April, 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 August and September, when the average rate fell by 0.0583 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0583

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2011: 3.0299) against the same month in 2010 (average: 2.6823), the exchange rate shifted by +0.3476 (+12.96%).

2011 Avg (August) 3.0299

2010 Avg (August) 2.6823

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.8425	2.7042	2.7734
February	2.8653	2.8125	2.8361
March	2.9300	2.8563	2.8935
April	3.0310	2.9109	2.9682
May	3.0488	2.9088	2.9656
June	3.0193	2.9531	2.9859
July	3.0289	2.9261	2.9886
August	3.0816	2.9846	3.0299
September	3.0442	2.9224	2.9716
October	3.0533	2.8809	2.9699
November	2.9752	2.8883	2.9396
December	2.9266	2.8653	2.8916