2015 HNL to MAD Historical Review

YEARLY HIGH

0.4754 MAD

YEARLY LOW

0.4306 MAD

YEARLY AVERAGE

0.4494 MAD

2015 HNL to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2015

During 2015, the HNL to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on March 11, valuing the pair at 0.4754. Conversely, the yearly low was recorded on January 1, dropping to 0.4306.

This high-to-low spread represents a total annual volatility of 0.0448 MAD. From a start-to-finish perspective, comparing the January average rate of 0.4447 to the December average rate of 0.4522, the exchange rate registered a net change of 1.68% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2015 high of 0.4754 was up 10.15% compared to the 2014 peak of 0.4316, 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 2,377 MAD

2014 Average 2,062 MAD

Yearly Trough Low 2,153 MAD

Transaction Impact: A difference of 224.04 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2015.

0.4646

0.4403

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 0.4511, compared to 0.4478 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0033 points.

H1 Avg (Jan–Jun) 0.4511

H2 Avg (Jul–Dec) 0.4478

Volatility Range Comparison

Volatility

The most volatile month in 2015 was January, with a trading range of 0.0277 MAD (High: 0.4583 / Low: 0.4306). On the other end, July was the most stable month, with a tight range of 0.0075 MAD (High: 0.4541 / Low: 0.4466).

January Spread (Volatile) ±0.0277

July Spread (Stable) ±0.0075

Growth Streaks & Declines

Trends

Between January and March, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between April and May, when the average rate fell by 0.0170 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0170

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (March 2015: 0.4626) against the same month in 2014 (average: 0.4207), the exchange rate shifted by +0.0419 (+9.97%).

2015 Avg (March) 0.4626

2014 Avg (March) 0.4207

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.4583	0.4306	0.4447
February	0.4585	0.4487	0.4513
March	0.4754	0.4545	0.4626
April	0.4698	0.4431	0.4605
May	0.4503	0.4361	0.4434
June	0.4499	0.4412	0.4439
July	0.4541	0.4466	0.4494
August	0.4508	0.4346	0.4449
September	0.4472	0.4393	0.4436
October	0.4485	0.4366	0.4423
November	0.4595	0.4460	0.4543
December	0.4589	0.4441	0.4522