2014 AZN to MAD Historical Review

YEARLY HIGH

11.5615 MAD

YEARLY LOW

10.3071 MAD

YEARLY AVERAGE

10.7293 MAD

2014 AZN to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the AZN to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 11.5615. Conversely, the yearly low was recorded on March 17, dropping to 10.3071.

This high-to-low spread represents a total annual volatility of 1.2544 MAD. From a start-to-finish perspective, comparing the January average rate of 10.4981 to the December average rate of 11.3997, the exchange rate registered a net change of 8.59% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 11.5615 was up 4.81% compared to the 2013 peak of 11.0313, 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 57,808 MAD

2013 Average 53,588 MAD

Yearly Trough Low 51,535 MAD

Transaction Impact: A difference of 6,272.19 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

11.5024

10.2698

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 10.4457, compared to 11.0129 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.5673 points.

H1 Avg (Jan–Jun) 10.4457

H2 Avg (Jul–Dec) 11.0129

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 0.3525 MAD (High: 11.1680 / Low: 10.8155). On the other end, June was the most stable month, with a tight range of 0.1011 MAD (High: 10.5627 / Low: 10.4616).

September Spread (Volatile) ±0.3525

June Spread (Stable) ±0.1011

Growth Streaks & Declines

Trends

Between March and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 9 straight months. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 0.1033 points.

Longest Streak 9 Mo.

Sharpest MoM Drop -0.1033

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 11.3997) against the same month in 2013 (average: 10.4621), the exchange rate shifted by +0.9377 (+8.96%).

2014 Avg (December) 11.3997

2013 Avg (December) 10.4621

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	10.5723	10.4206	10.4981
February	10.5875	10.3931	10.4759
March	10.4299	10.3071	10.3725
April	10.4468	10.3374	10.3768
May	10.5132	10.3258	10.4317
June	10.5627	10.4616	10.5190
July	10.6524	10.4813	10.5565
August	10.8207	10.6255	10.6969
September	11.1680	10.8155	10.9904
October	11.2704	11.0634	11.1504
November	11.3475	11.2233	11.2837
December	11.5615	11.2559	11.3997