2023 MAD to TRY Historical Review

YEARLY HIGH

2.9892 TRY

YEARLY LOW

1.7814 TRY

YEARLY AVERAGE

2.3539 TRY

2023 MAD to TRY Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MAD to TRY exchange rate experienced significant fluctuation. The market reached its absolute peak on December 28, valuing the pair at 2.9892. Conversely, the yearly low was recorded on January 3, dropping to 1.7814.

This high-to-low spread represents a total annual volatility of 1.2078 TRY. From a start-to-finish perspective, comparing the January average rate of 1.8357 to the December average rate of 2.8986, the exchange rate registered a net change of 57.91% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 2.9892 was up 66.99% compared to the 2022 peak of 1.7900, 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 14,946 TRY

2022 Average 8,133 TRY

Yearly Trough Low 8,907 TRY

Transaction Impact: A difference of 6,039.05 TRY purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

3.0055

1.7231

JanuMarcMayJulySeptNove

MAD to TRY 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 1.9555, compared to 2.7522 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.7967 points.

H1 Avg (Jan–Jun) 1.9555

H2 Avg (Jul–Dec) 2.7522

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.5770 TRY (High: 2.6322 / Low: 2.0552). On the other end, February was the most stable month, with a tight range of 0.0439 TRY (High: 1.8558 / Low: 1.8119).

June Spread (Volatile) ±0.5770

February Spread (Stable) ±0.0439

Growth Streaks & Declines

Trends

Between February and August, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 6 straight months. Conversely, the sharpest month-over-month decline occurred between August and September, when the average rate fell by 0.0795 points.

Longest Streak 6 Mo.

Sharpest MoM Drop -0.0795

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 2.8986) against the same month in 2022 (average: 1.7736), the exchange rate shifted by +1.1250 (+63.43%).

2023 Avg (December) 2.8986

2022 Avg (December) 1.7736

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.8700	1.7814	1.8357
February	1.8558	1.8119	1.8299
March	1.8791	1.8119	1.8399
April	1.9639	1.8758	1.9098
May	2.0423	1.9399	1.9563
June	2.6322	2.0552	2.3616
July	2.7889	2.6247	2.7189
August	2.7922	2.5862	2.7194
September	2.6680	2.6121	2.6399
October	2.7530	2.6582	2.7149
November	2.8834	2.7505	2.8214
December	2.9892	2.8468	2.8986