2016 TOP to TND Historical Review

YEARLY HIGH

1.0336 TND

YEARLY LOW

0.8636 TND

YEARLY AVERAGE

0.9529 TND

2016 TOP to TND Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2016

During 2016, the TOP to TND exchange rate experienced significant fluctuation. The market reached its absolute peak on November 9, valuing the pair at 1.0336. Conversely, the yearly low was recorded on February 7, dropping to 0.8636.

This high-to-low spread represents a total annual volatility of 0.1700 TND. From a start-to-finish perspective, comparing the January average rate of 0.9057 to the December average rate of 1.0143, the exchange rate registered a net change of 11.99% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2016 high of 1.0336 was up 4.05% compared to the 2015 peak of 0.9934, 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 5,168 TND

2015 Average 4,633 TND

Yearly Trough Low 4,318 TND

Transaction Impact: A difference of 850.12 TND purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2016.

1.0279

0.8759

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 0.9114, compared to 0.9945 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0831 points.

H1 Avg (Jan–Jun) 0.9114

H2 Avg (Jul–Dec) 0.9945

Volatility Range Comparison

Volatility

The most volatile month in 2016 was June, with a trading range of 0.0643 TND (High: 0.9914 / Low: 0.9272). On the other end, September was the most stable month, with a tight range of 0.0127 TND (High: 0.9866 / Low: 0.9739).

June Spread (Volatile) ±0.0643

September Spread (Stable) ±0.0127

Growth Streaks & Declines

Trends

Between February and July, 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 January and February, when the average rate fell by 0.0171 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0171

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2016: 1.0152) against the same month in 2015 (average: 0.9152), the exchange rate shifted by +0.1000 (+10.93%).

2016 Avg (November) 1.0152

2015 Avg (November) 0.9152

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.9188	0.8871	0.9057
February	0.9004	0.8636	0.8886
March	0.9044	0.8900	0.8988
April	0.9169	0.8939	0.9032
May	0.9272	0.8947	0.9109
June	0.9914	0.9272	0.9610
July	0.9848	0.9679	0.9769
August	0.9845	0.9674	0.9749
September	0.9866	0.9739	0.9798
October	1.0239	0.9775	1.0059
November	1.0336	0.9858	1.0152
December	1.0299	0.9943	1.0143