2014 ETB to MAD Historical Review

YEARLY HIGH

0.4478 MAD

YEARLY LOW

0.4146 MAD

YEARLY AVERAGE

0.4276 MAD

2014 ETB to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the ETB to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 0.4478. Conversely, the yearly low was recorded on May 6, dropping to 0.4146.

This high-to-low spread represents a total annual volatility of 0.0333 MAD. From a start-to-finish perspective, comparing the January average rate of 0.4296 to the December average rate of 0.4431, the exchange rate registered a net change of 3.14% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 0.4478 was down 5.08% compared to the 2013 peak of 0.4718, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 2,239 MAD

2013 Average 2,247 MAD

Yearly Trough Low 2,073 MAD

Transaction Impact: A difference of 166.26 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

0.4455

0.4158

JanuMarcMayJulySeptNove

ETB 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 0.4228, compared to 0.4325 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0098 points.

H1 Avg (Jan–Jun) 0.4228

H2 Avg (Jul–Dec) 0.4325

Volatility Range Comparison

Volatility

The most volatile month in 2014 was February, with a trading range of 0.0134 MAD (High: 0.4354 / Low: 0.4220). On the other end, June was the most stable month, with a tight range of 0.0043 MAD (High: 0.4230 / Low: 0.4187).

February Spread (Volatile) ±0.0134

June Spread (Stable) ±0.0043

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 February and March, when the average rate fell by 0.0054 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0054

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 0.4431) against the same month in 2013 (average: 0.4295), the exchange rate shifted by +0.0135 (+3.15%).

2014 Avg (December) 0.4431

2013 Avg (December) 0.4295

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.4319	0.4262	0.4296
February	0.4354	0.4220	0.4269
March	0.4242	0.4186	0.4215
April	0.4214	0.4150	0.4183
May	0.4215	0.4146	0.4192
June	0.4230	0.4187	0.4211
July	0.4223	0.4179	0.4196
August	0.4263	0.4210	0.4229
September	0.4389	0.4263	0.4322
October	0.4404	0.4333	0.4367
November	0.4428	0.4379	0.4406
December	0.4478	0.4375	0.4431