2012 TND to ARS Historical Review

YEARLY HIGH

3.1717 ARS

YEARLY LOW

2.7615 ARS

YEARLY AVERAGE

2.9115 ARS

2012 TND to ARS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2012

During 2012, the TND to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 27, valuing the pair at 3.1717. Conversely, the yearly low was recorded on June 5, dropping to 2.7615.

This high-to-low spread represents a total annual volatility of 0.4103 ARS. From a start-to-finish perspective, comparing the January average rate of 2.8553 to the December average rate of 3.1254, the exchange rate registered a net change of 9.46% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2012 high of 3.1717 was up 2.93% compared to the 2011 peak of 3.0816, 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 15,859 ARS

2011 Average 14,675 ARS

Yearly Trough Low 13,807 ARS

Transaction Impact: A difference of 2,051.32 ARS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2012.

3.1580

2.7660

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 2.8566, compared to 2.9664 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1098 points.

H1 Avg (Jan–Jun) 2.8566

H2 Avg (Jul–Dec) 2.9664

Volatility Range Comparison

Volatility

The most volatile month in 2012 was September, with a trading range of 0.1076 ARS (High: 3.0058 / Low: 2.8982). On the other end, April was the most stable month, with a tight range of 0.0458 ARS (High: 2.9117 / Low: 2.8660).

September Spread (Volatile) ±0.1076

April Spread (Stable) ±0.0458

Growth Streaks & Declines

Trends

Between June and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 6 straight months. Conversely, the sharpest month-over-month decline occurred between April and May, when the average rate fell by 0.0598 points.

Longest Streak 6 Mo.

Sharpest MoM Drop -0.0598

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2012: 3.1254) against the same month in 2011 (average: 2.8916), the exchange rate shifted by +0.2338 (+8.09%).

2012 Avg (December) 3.1254

2011 Avg (December) 2.8916

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.8960	2.8204	2.8553
February	2.9222	2.8652	2.8962
March	2.9128	2.8616	2.8845
April	2.9117	2.8660	2.8824
May	2.8687	2.7678	2.8226
June	2.8567	2.7615	2.7986
July	2.8556	2.7822	2.8081
August	2.9037	2.8138	2.8586
September	3.0058	2.8982	2.9638
October	3.0406	2.9771	3.0155
November	3.0702	2.9948	3.0268
December	3.1717	3.0709	3.1254