2011 AZN to MAD Historical Review

YEARLY HIGH

10.9380 MAD

YEARLY LOW

9.6719 MAD

YEARLY AVERAGE

10.2569 MAD

2011 AZN to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the AZN to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 29, valuing the pair at 10.9380. Conversely, the yearly low was recorded on May 4, dropping to 9.6719.

This high-to-low spread represents a total annual volatility of 1.2661 MAD. From a start-to-finish perspective, comparing the January average rate of 10.4901 to the December average rate of 10.7687, the exchange rate registered a net change of 2.66% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 10.9380 was down 4.22% compared to the 2010 peak of 11.4196, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 54,690 MAD

2010 Average 52,254 MAD

Yearly Trough Low 48,360 MAD

Transaction Impact: A difference of 6,330.50 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

10.8549

9.8205

JanuMarcMayJulySeptNove

AZN 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 10.1463, compared to 10.3675 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.2212 points.

H1 Avg (Jan–Jun) 10.1463

H2 Avg (Jul–Dec) 10.3675

Volatility Range Comparison

Volatility

The most volatile month in 2011 was October, with a trading range of 0.5972 MAD (High: 10.7515 / Low: 10.1543). On the other end, August was the most stable month, with a tight range of 0.1929 MAD (High: 10.1460 / Low: 9.9531).

October Spread (Volatile) ±0.5972

August Spread (Stable) ±0.1929

Growth Streaks & Declines

Trends

Between August and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.2425 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.2425

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2011: 10.7687) against the same month in 2010 (average: 10.5626), the exchange rate shifted by +0.2061 (+1.95%).

2011 Avg (December) 10.7687

2010 Avg (December) 10.5626

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	10.7972	10.2647	10.4901
February	10.4644	10.2382	10.3485
March	10.3002	10.0382	10.1492
April	10.0823	9.6891	9.9067
May	10.1949	9.6719	9.9858
June	10.1845	9.8317	9.9974
July	10.2774	9.9393	10.0728
August	10.1460	9.9531	10.0467
September	10.6022	10.0838	10.3882
October	10.7515	10.1543	10.4096
November	10.7393	10.3608	10.5190
December	10.9380	10.5630	10.7687