2011 AFN to MAD Historical Review

YEARLY HIGH

0.2000 MAD

YEARLY LOW

0.1653 MAD

YEARLY AVERAGE

0.1832 MAD

2011 AFN to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the AFN to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 10, valuing the pair at 0.2000. Conversely, the yearly low was recorded on October 30, dropping to 0.1653.

This high-to-low spread represents a total annual volatility of 0.0348 MAD. From a start-to-finish perspective, comparing the January average rate of 0.1943 to the December average rate of 0.1824, the exchange rate registered a net change of -6.13% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2011 high of 0.2000 was down 0.58% compared to the 2010 peak of 0.2012, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 1,000 MAD

2010 Average 932 MAD

Yearly Trough Low 826 MAD

Transaction Impact: A difference of 173.87 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

0.1968

0.1669

JanuMarcMayJulySeptNove

AFN to MAD 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 0.1868, compared to 0.1795 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0074 points.

H1 Avg (Jan–Jun) 0.1868

H2 Avg (Jul–Dec) 0.1795

Volatility Range Comparison

Volatility

The most volatile month in 2011 was September, with a trading range of 0.0218 MAD (High: 0.1924 / Low: 0.1706). On the other end, August was the most stable month, with a tight range of 0.0036 MAD (High: 0.1855 / Low: 0.1819).

September Spread (Volatile) ±0.0218

August Spread (Stable) ±0.0036

Growth Streaks & Declines

Trends

Between October and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 0.0162 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0162

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2011: 0.1943) against the same month in 2010 (average: 0.1643), the exchange rate shifted by +0.0300 (+18.26%).

2011 Avg (January) 0.1943

2010 Avg (January) 0.1643

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.2000	0.1901	0.1943
February	0.1933	0.1891	0.1912
March	0.1899	0.1848	0.1870
April	0.1857	0.1783	0.1823
May	0.1870	0.1777	0.1834
June	0.1863	0.1803	0.1829
July	0.1877	0.1816	0.1841
August	0.1855	0.1819	0.1836
September	0.1924	0.1706	0.1856
October	0.1750	0.1653	0.1694
November	0.1815	0.1686	0.1718
December	0.1885	0.1718	0.1824