2011 TOP to TND Historical Review

YEARLY HIGH

0.8704 TND

YEARLY LOW

0.7321 TND

YEARLY AVERAGE

0.8026 TND

2011 TOP to TND Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the TOP to TND exchange rate experienced significant fluctuation. The market reached its absolute peak on December 13, valuing the pair at 0.8704. Conversely, the yearly low was recorded on April 25, dropping to 0.7321.

This high-to-low spread represents a total annual volatility of 0.1384 TND. From a start-to-finish perspective, comparing the January average rate of 0.7713 to the December average rate of 0.8540, the exchange rate registered a net change of 10.72% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 0.8704 was up 10.48% compared to the 2010 peak of 0.7879, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 4,352 TND

2010 Average 3,717 TND

Yearly Trough Low 3,660 TND

Transaction Impact: A difference of 691.92 TND purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

0.8647

0.7373

JanuMarcMayJulySeptNove

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)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 0.7672, compared to 0.8380 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0708 points.

H1 Avg (Jan–Jun) 0.7672

H2 Avg (Jul–Dec) 0.8380

Volatility Range Comparison

Volatility

The most volatile month in 2011 was July, with a trading range of 0.0594 TND (High: 0.8533 / Low: 0.7939). On the other end, February was the most stable month, with a tight range of 0.0129 TND (High: 0.7714 / Low: 0.7585).

July Spread (Volatile) ±0.0594

February Spread (Stable) ±0.0129

Growth Streaks & Declines

Trends

Between April and September, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 0.0133 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0133

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2011: 0.8540) against the same month in 2010 (average: 0.7716), the exchange rate shifted by +0.0825 (+10.69%).

2011 Avg (December) 0.8540

2010 Avg (December) 0.7716

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.7875	0.7580	0.7713
February	0.7714	0.7585	0.7646
March	0.7642	0.7418	0.7514
April	0.7622	0.7321	0.7479
May	0.7984	0.7565	0.7801
June	0.8027	0.7760	0.7878
July	0.8533	0.7939	0.8181
August	0.8568	0.8248	0.8391
September	0.8514	0.8203	0.8413
October	0.8476	0.8138	0.8284
November	0.8595	0.8229	0.8469
December	0.8704	0.8437	0.8540