2014 ILS to MAD Historical Review

YEARLY HIGH

2.4418 MAD

YEARLY LOW

2.2419 MAD

YEARLY AVERAGE

2.3530 MAD

2014 ILS to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the ILS to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on August 4, valuing the pair at 2.4418. Conversely, the yearly low was recorded on December 2, dropping to 2.2419.

This high-to-low spread represents a total annual volatility of 0.1999 MAD. From a start-to-finish perspective, comparing the January average rate of 2.3567 to the December average rate of 2.2738, the exchange rate registered a net change of -3.52% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2014 high of 2.4418 was up 1.92% compared to the 2013 peak of 2.3958, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 12,209 MAD

2013 Average 11,650 MAD

Yearly Trough Low 11,210 MAD

Transaction Impact: A difference of 999.44 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

2.4318

2.2594

JanuMarcMayJulySeptNove

ILS 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 2.3538, compared to 2.3521 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0017 points.

H1 Avg (Jan–Jun) 2.3538

H2 Avg (Jul–Dec) 2.3521

Volatility Range Comparison

Volatility

The most volatile month in 2014 was October, with a trading range of 0.0822 MAD (High: 2.3937 / Low: 2.3114). On the other end, March was the most stable month, with a tight range of 0.0195 MAD (High: 2.3473 / Low: 2.3278).

October Spread (Volatile) ±0.0822

March Spread (Stable) ±0.0195

Growth Streaks & Declines

Trends

Between February and July, 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 October and November, when the average rate fell by 0.0357 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0357

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2014: 2.3973) against the same month in 2013 (average: 2.3473), the exchange rate shifted by +0.0501 (+2.13%).

2014 Avg (August) 2.3973

2013 Avg (August) 2.3473

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.3695	2.3472	2.3567
February	2.3620	2.3242	2.3367
March	2.3473	2.3278	2.3384
April	2.3538	2.3333	2.3411
May	2.3718	2.3461	2.3607
June	2.4053	2.3671	2.3891
July	2.4360	2.3982	2.4174
August	2.4418	2.3688	2.3973
September	2.3863	2.3582	2.3700
October	2.3937	2.3114	2.3450
November	2.3391	2.2740	2.3092
December	2.3235	2.2419	2.2738