2023 MAD to AFN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 MAD to AFN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the MAD to AFN exchange rate experienced significant fluctuation. The market reached its absolute peak on July 27, valuing the pair at 9.0741. Conversely, the yearly low was recorded on November 18, dropping to 6.8089.
This high-to-low spread represents a total annual volatility of 2.2652 AFN. From a start-to-finish perspective, comparing the January average rate of 8.6851 to the December average rate of 6.9673, the exchange rate registered a net change of -19.78% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 9.0741 was down 20.37% compared to the 2022 peak of 11.3960, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 MAD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
MAD to AFN Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 8.6185, compared to 7.7329 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.8856 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was September, with a trading range of 0.7977 AFN (High: 7.9697 / Low: 7.1719). On the other end, March was the most stable month, with a tight range of 0.2561 AFN (High: 8.6174 / Low: 8.3613).
Growth Streaks & Declines
TrendsBetween 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 0.9102 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (July 2023: 8.8958) against the same month in 2022 (average: 8.6705), the exchange rate shifted by +0.2254 (+2.60%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 8.9231 | 8.3528 | 8.6851 |
| February | 8.9056 | 8.4400 | 8.7042 |
| March | 8.6174 | 8.3613 | 8.4826 |
| April | 9.0198 | 8.3576 | 8.5534 |
| May | 8.8208 | 8.5024 | 8.6567 |
| June | 8.8411 | 8.4776 | 8.6291 |
| July | 9.0741 | 8.7137 | 8.8958 |
| August | 8.7883 | 8.0065 | 8.5293 |
| September | 7.9697 | 7.1719 | 7.6192 |
| October | 7.6036 | 7.1236 | 7.3526 |
| November | 7.2836 | 6.8089 | 7.0331 |
| December | 7.1404 | 6.8102 | 6.9673 |