2014 HNL to MAD Historical Review

YEARLY HIGH

0.4316 MAD

YEARLY LOW

0.3914 MAD

YEARLY AVERAGE

0.4124 MAD

2014 HNL to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the HNL to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on May 29, valuing the pair at 0.4316. Conversely, the yearly low was recorded on June 30, dropping to 0.3914.

This high-to-low spread represents a total annual volatility of 0.0401 MAD. From a start-to-finish perspective, comparing the January average rate of 0.4105 to the December average rate of 0.4238, the exchange rate registered a net change of 3.25% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 0.4316 was down 5.04% compared to the 2013 peak of 0.4545, 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 2,158 MAD

2013 Average 2,094 MAD

Yearly Trough Low 1,957 MAD

Transaction Impact: A difference of 200.72 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

0.4292

0.3919

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 0.4157, compared to 0.4091 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0066 points.

H1 Avg (Jan–Jun) 0.4157

H2 Avg (Jul–Dec) 0.4091

Volatility Range Comparison

Volatility

The most volatile month in 2014 was May, with a trading range of 0.0337 MAD (High: 0.4316 / Low: 0.3979). On the other end, April was the most stable month, with a tight range of 0.0030 MAD (High: 0.4262 / Low: 0.4232).

May Spread (Volatile) ±0.0337

April Spread (Stable) ±0.0030

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 May and June, when the average rate fell by 0.0301 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0301

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2014: 0.4261) against the same month in 2013 (average: 0.4426), the exchange rate shifted by -0.0165 (-3.73%).

2014 Avg (May) 0.4261

2013 Avg (May) 0.4426

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.4161	0.4031	0.4105
February	0.4185	0.4143	0.4161
March	0.4259	0.4164	0.4207
April	0.4262	0.4232	0.4248
May	0.4316	0.3979	0.4261
June	0.3987	0.3914	0.3960
July	0.3992	0.3922	0.3950
August	0.4020	0.3967	0.3992
September	0.4147	0.4021	0.4083
October	0.4178	0.4079	0.4117
November	0.4193	0.4139	0.4166
December	0.4308	0.4172	0.4238