2023 HRK to MAD Historical Review

YEARLY HIGH

1.4917 MAD

YEARLY LOW

1.4066 MAD

YEARLY AVERAGE

1.4531 MAD

2023 HRK to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the HRK to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 3, valuing the pair at 1.4917. Conversely, the yearly low was recorded on July 5, dropping to 1.4066.

This high-to-low spread represents a total annual volatility of 0.0851 MAD. From a start-to-finish perspective, comparing the January average rate of 1.4651 to the December average rate of 1.4551, the exchange rate registered a net change of -0.68% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 1.4917 was up 0.55% compared to the 2022 peak of 1.4835, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 7,458 MAD

2022 Average 7,088 MAD

Yearly Trough Low 7,033 MAD

Transaction Impact: A difference of 425.47 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

1.4779

1.4244

JanuMarcMayJulySeptNove

HRK 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 1.4618, compared to 1.4443 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0175 points.

H1 Avg (Jan–Jun) 1.4618

H2 Avg (Jul–Dec) 1.4443

Volatility Range Comparison

Volatility

The most volatile month in 2023 was August, with a trading range of 0.0562 MAD (High: 1.4664 / Low: 1.4101). On the other end, September was the most stable month, with a tight range of 0.0285 MAD (High: 1.4619 / Low: 1.4333).

August Spread (Volatile) ±0.0562

September Spread (Stable) ±0.0285

Growth Streaks & Declines

Trends

Between February and April, 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 June and July, when the average rate fell by 0.0169 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0169

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 1.4651) against the same month in 2022 (average: 1.3978), the exchange rate shifted by +0.0674 (+4.82%).

2023 Avg (January) 1.4651

2022 Avg (January) 1.3978

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.4917	1.4456	1.4651
February	1.4867	1.4525	1.4623
March	1.4876	1.4455	1.4674
April	1.4872	1.4481	1.4734
May	1.4715	1.4357	1.4568
June	1.4634	1.4315	1.4458
July	1.4510	1.4066	1.4289
August	1.4664	1.4101	1.4333
September	1.4619	1.4333	1.4496
October	1.4620	1.4239	1.4404
November	1.4728	1.4441	1.4587
December	1.4766	1.4440	1.4551