2023 MAD to ILS Historical Review

YEARLY HIGH

0.3965 ILS

YEARLY LOW

0.3300 ILS

YEARLY AVERAGE

0.3641 ILS

2023 MAD to ILS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MAD to ILS exchange rate experienced significant fluctuation. The market reached its absolute peak on October 26, valuing the pair at 0.3965. Conversely, the yearly low was recorded on January 23, dropping to 0.3300.

This high-to-low spread represents a total annual volatility of 0.0665 ILS. From a start-to-finish perspective, comparing the January average rate of 0.3366 to the December average rate of 0.3649, the exchange rate registered a net change of 8.42% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.3965 was up 12.87% compared to the 2022 peak of 0.3513, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 1,982 ILS

2022 Average 1,655 ILS

Yearly Trough Low 1,650 ILS

Transaction Impact: A difference of 332.49 ILS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.3924

0.3315

JanuMarcMayJulySeptNove

MAD to ILS 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 0.3525, compared to 0.3757 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0232 points.

H1 Avg (Jan–Jun) 0.3525

H2 Avg (Jul–Dec) 0.3757

Volatility Range Comparison

Volatility

The most volatile month in 2023 was October, with a trading range of 0.0260 ILS (High: 0.3965 / Low: 0.3705). On the other end, December was the most stable month, with a tight range of 0.0081 ILS (High: 0.3691 / Low: 0.3610).

October Spread (Volatile) ±0.0260

December Spread (Stable) ±0.0081

Growth Streaks & Declines

Trends

Between January and May, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between October and November, when the average rate fell by 0.0130 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0130

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (October 2023: 0.3873) against the same month in 2022 (average: 0.3232), the exchange rate shifted by +0.0641 (+19.83%).

2023 Avg (October) 0.3873

2022 Avg (October) 0.3232

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.3410	0.3300	0.3366
February	0.3525	0.3332	0.3440
March	0.3579	0.3412	0.3501
April	0.3672	0.3497	0.3589
May	0.3685	0.3576	0.3632
June	0.3748	0.3520	0.3624
July	0.3842	0.3682	0.3765
August	0.3860	0.3689	0.3782
September	0.3783	0.3689	0.3730
October	0.3965	0.3705	0.3873
November	0.3898	0.3660	0.3743
December	0.3691	0.3610	0.3649