2018 HNL to MAD Historical Review

YEARLY HIGH

0.4160 MAD

YEARLY LOW

0.3858 MAD

YEARLY AVERAGE

0.3926 MAD

2018 HNL to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2018

During 2018, the HNL to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 5, valuing the pair at 0.4160. Conversely, the yearly low was recorded on February 15, dropping to 0.3858.

This high-to-low spread represents a total annual volatility of 0.0302 MAD. From a start-to-finish perspective, comparing the January average rate of 0.3916 to the December average rate of 0.3932, the exchange rate registered a net change of 0.42% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2018 high of 0.4160 was down 5.80% compared to the 2017 peak of 0.4416, 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 2,080 MAD

2017 Average 2,068 MAD

Yearly Trough Low 1,929 MAD

Transaction Impact: A difference of 151.03 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2018.

0.3970

0.3879

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 0.3919, compared to 0.3932 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0013 points.

H1 Avg (Jan–Jun) 0.3919

H2 Avg (Jul–Dec) 0.3932

Volatility Range Comparison

Volatility

The most volatile month in 2018 was December, with a trading range of 0.0276 MAD (High: 0.4160 / Low: 0.3884). On the other end, July was the most stable month, with a tight range of 0.0032 MAD (High: 0.3957 / Low: 0.3925).

December Spread (Volatile) ±0.0276

July Spread (Stable) ±0.0032

Growth Streaks & Declines

Trends

Between March and May, 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 August and September, when the average rate fell by 0.0039 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0039

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2018: 0.3932) against the same month in 2017 (average: 0.3986), the exchange rate shifted by -0.0054 (-1.36%).

2018 Avg (December) 0.3932

2017 Avg (December) 0.3986

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.3968	0.3870	0.3916
February	0.3933	0.3858	0.3894
March	0.3904	0.3862	0.3887
April	0.3927	0.3866	0.3892
May	0.4005	0.3935	0.3962
June	0.3985	0.3928	0.3962
July	0.3957	0.3925	0.3944
August	0.3987	0.3908	0.3950
September	0.3935	0.3880	0.3911
October	0.3973	0.3916	0.3938
November	0.3975	0.3890	0.3919
December	0.4160	0.3884	0.3932