2023 AFN to MAD Historical Review

YEARLY HIGH

0.1469 MAD

YEARLY LOW

0.1102 MAD

YEARLY AVERAGE

0.1233 MAD

2023 AFN to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the AFN to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on November 18, valuing the pair at 0.1469. Conversely, the yearly low was recorded on July 27, dropping to 0.1102.

This high-to-low spread represents a total annual volatility of 0.0367 MAD. From a start-to-finish perspective, comparing the January average rate of 0.1152 to the December average rate of 0.1436, the exchange rate registered a net change of 24.65% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.1469 was up 13.68% compared to the 2022 peak of 0.1292, 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 734 MAD

2022 Average 567 MAD

Yearly Trough Low 551 MAD

Transaction Impact: A difference of 183.32 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.1467

0.1093

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 0.1161, compared to 0.1305 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0144 points.

H1 Avg (Jan–Jun) 0.1161

H2 Avg (Jul–Dec) 0.1305

Volatility Range Comparison

Volatility

The most volatile month in 2023 was September, with a trading range of 0.0140 MAD (High: 0.1394 / Low: 0.1255). On the other end, March was the most stable month, with a tight range of 0.0036 MAD (High: 0.1196 / Low: 0.1160).

September Spread (Volatile) ±0.0140

March Spread (Stable) ±0.0036

Growth Streaks & Declines

Trends

Between July and December, 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 June and July, when the average rate fell by 0.0035 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0035

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2023: 0.1423) against the same month in 2022 (average: 0.1226), the exchange rate shifted by +0.0196 (+16.02%).

2023 Avg (November) 0.1423

2022 Avg (November) 0.1226

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.1197	0.1121	0.1152
February	0.1185	0.1123	0.1149
March	0.1196	0.1160	0.1179
April	0.1197	0.1109	0.1169
May	0.1176	0.1134	0.1155
June	0.1180	0.1131	0.1159
July	0.1148	0.1102	0.1124
August	0.1249	0.1138	0.1173
September	0.1394	0.1255	0.1313
October	0.1404	0.1315	0.1360
November	0.1469	0.1373	0.1423
December	0.1468	0.1400	0.1436