2011 HNL to MAD Historical Review

YEARLY HIGH

0.4549 MAD

YEARLY LOW

0.4042 MAD

YEARLY AVERAGE

0.4280 MAD

2011 HNL to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the HNL to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 10, valuing the pair at 0.4549. Conversely, the yearly low was recorded on May 4, dropping to 0.4042.

This high-to-low spread represents a total annual volatility of 0.0506 MAD. From a start-to-finish perspective, comparing the January average rate of 0.4419 to the December average rate of 0.4465, the exchange rate registered a net change of 1.05% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 0.4549 was down 6.16% compared to the 2010 peak of 0.4847, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 2,274 MAD

2010 Average 2,226 MAD

Yearly Trough Low 2,021 MAD

Transaction Impact: A difference of 253.24 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

0.4497

0.4114

JanuMarcMayJulySeptNove

HNL 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 0.4250, compared to 0.4311 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0061 points.

H1 Avg (Jan–Jun) 0.4250

H2 Avg (Jul–Dec) 0.4311

Volatility Range Comparison

Volatility

The most volatile month in 2011 was October, with a trading range of 0.0265 MAD (High: 0.4469 / Low: 0.4205). On the other end, February was the most stable month, with a tight range of 0.0094 MAD (High: 0.4397 / Low: 0.4303).

October Spread (Volatile) ±0.0265

February Spread (Stable) ±0.0094

Growth Streaks & Declines

Trends

Between June and September, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.0110 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0110

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2011: 0.4419) against the same month in 2010 (average: 0.4183), the exchange rate shifted by +0.0236 (+5.64%).

2011 Avg (January) 0.4419

2010 Avg (January) 0.4183

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.4549	0.4323	0.4419
February	0.4397	0.4303	0.4348
March	0.4316	0.4203	0.4255
April	0.4224	0.4054	0.4146
May	0.4257	0.4042	0.4170
June	0.4237	0.4099	0.4163
July	0.4271	0.4134	0.4189
August	0.4247	0.4152	0.4197
September	0.4412	0.4205	0.4325
October	0.4469	0.4205	0.4322
November	0.4461	0.4295	0.4365
December	0.4534	0.4390	0.4465