2023 MAD to TOP Historical Review

YEARLY HIGH

0.2453 TOP

YEARLY LOW

0.2228 TOP

YEARLY AVERAGE

0.2334 TOP

2023 MAD to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MAD to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on August 5, valuing the pair at 0.2453. Conversely, the yearly low was recorded on January 3, dropping to 0.2228.

This high-to-low spread represents a total annual volatility of 0.0224 TOP. From a start-to-finish perspective, comparing the January average rate of 0.2277 to the December average rate of 0.2340, the exchange rate registered a net change of 2.79% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.2453 was down 0.95% compared to the 2022 peak of 0.2476, 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 1,226 TOP

2022 Average 1,149 TOP

Yearly Trough Low 1,114 TOP

Transaction Impact: A difference of 112.10 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.2426

0.2255

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 0.2306, compared to 0.2362 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0056 points.

H1 Avg (Jan–Jun) 0.2306

H2 Avg (Jul–Dec) 0.2362

Volatility Range Comparison

Volatility

The most volatile month in 2023 was August, with a trading range of 0.0102 TOP (High: 0.2453 / Low: 0.2351). On the other end, November was the most stable month, with a tight range of 0.0032 TOP (High: 0.2360 / Low: 0.2328).

August Spread (Volatile) ±0.0102

November Spread (Stable) ±0.0032

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 August and September, when the average rate fell by 0.0065 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0065

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2023: 0.2402) against the same month in 2022 (average: 0.2246), the exchange rate shifted by +0.0156 (+6.95%).

2023 Avg (August) 0.2402

2022 Avg (August) 0.2246

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.2312	0.2228	0.2277
February	0.2286	0.2253	0.2269
March	0.2311	0.2259	0.2284
April	0.2386	0.2291	0.2323
May	0.2359	0.2301	0.2334
June	0.2394	0.2318	0.2347
July	0.2444	0.2391	0.2411
August	0.2453	0.2351	0.2402
September	0.2360	0.2316	0.2337
October	0.2347	0.2306	0.2334
November	0.2360	0.2328	0.2346
December	0.2370	0.2318	0.2340