2011 SAR to MAD Historical Review

YEARLY HIGH

2.2951 MAD

YEARLY LOW

2.0394 MAD

YEARLY AVERAGE

2.1584 MAD

2011 SAR to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the SAR to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 10, valuing the pair at 2.2951. Conversely, the yearly low was recorded on May 4, dropping to 2.0394.

This high-to-low spread represents a total annual volatility of 0.2557 MAD. From a start-to-finish perspective, comparing the January average rate of 2.2293 to the December average rate of 2.2571, the exchange rate registered a net change of 1.24% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 2.2951 was down 6.16% compared to the 2010 peak of 2.4457, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 11,476 MAD

2010 Average 11,231 MAD

Yearly Trough Low 10,197 MAD

Transaction Impact: A difference of 1,278.52 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

2.2737

2.0742

JanuMarcMayJulySeptNove

SAR to MAD 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 2.1437, compared to 2.1732 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0294 points.

H1 Avg (Jan–Jun) 2.1437

H2 Avg (Jul–Dec) 2.1732

Volatility Range Comparison

Volatility

The most volatile month in 2011 was October, with a trading range of 0.1263 MAD (High: 2.2542 / Low: 2.1280). On the other end, August was the most stable month, with a tight range of 0.0415 MAD (High: 2.1278 / Low: 2.0863).

October Spread (Volatile) ±0.1263

August Spread (Stable) ±0.0415

Growth Streaks & Declines

Trends

Between August and December, 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 March and April, when the average rate fell by 0.0551 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0551

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2011: 2.2293) against the same month in 2010 (average: 2.1109), the exchange rate shifted by +0.1184 (+5.61%).

2011 Avg (January) 2.2293

2010 Avg (January) 2.1109

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.2951	2.1813	2.2293
February	2.2181	2.1691	2.1931
March	2.1775	2.1205	2.1459
April	2.1296	2.0440	2.0908
May	2.1463	2.0394	2.1036
June	2.1376	2.0667	2.0996
July	2.1537	2.0840	2.1113
August	2.1278	2.0863	2.1055
September	2.2224	2.1135	2.1773
October	2.2542	2.1280	2.1827
November	2.2510	2.1718	2.2051
December	2.2930	2.2141	2.2571