2014 MAD to TOP Historical Review

YEARLY HIGH

0.2303 TOP

YEARLY LOW

0.2157 TOP

YEARLY AVERAGE

0.2244 TOP

2014 MAD to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the MAD to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on March 17, valuing the pair at 0.2303. Conversely, the yearly low was recorded on September 7, dropping to 0.2157.

This high-to-low spread represents a total annual volatility of 0.0146 TOP. From a start-to-finish perspective, comparing the January average rate of 0.2262 to the December average rate of 0.2196, the exchange rate registered a net change of -2.89% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2014 high of 0.2303 was up 1.10% compared to the 2013 peak of 0.2278, 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 1,151 TOP

2013 Average 1,066 TOP

Yearly Trough Low 1,078 TOP

Transaction Impact: A difference of 73.08 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

0.2291

0.2188

JanuMarcMayJulySeptNove

MAD to TOP 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 0.2265, compared to 0.2223 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0042 points.

H1 Avg (Jan–Jun) 0.2265

H2 Avg (Jul–Dec) 0.2223

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 0.0081 TOP (High: 0.2237 / Low: 0.2157). On the other end, February was the most stable month, with a tight range of 0.0030 TOP (High: 0.2288 / Low: 0.2257).

September Spread (Volatile) ±0.0081

February Spread (Stable) ±0.0030

Growth Streaks & Declines

Trends

Between January and March, 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 November and December, when the average rate fell by 0.0052 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0052

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (March 2014: 0.2282) against the same month in 2013 (average: 0.2040), the exchange rate shifted by +0.0243 (+11.90%).

2014 Avg (March) 0.2282

2013 Avg (March) 0.2040

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.2282	0.2241	0.2262
February	0.2288	0.2257	0.2277
March	0.2303	0.2239	0.2282
April	0.2292	0.2223	0.2251
May	0.2286	0.2239	0.2265
June	0.2276	0.2238	0.2253
July	0.2244	0.2180	0.2226
August	0.2253	0.2184	0.2215
September	0.2237	0.2157	0.2212
October	0.2277	0.2210	0.2243
November	0.2267	0.2211	0.2248
December	0.2232	0.2174	0.2196