2014 SAR to MAD Historical Review

YEARLY HIGH

2.4137 MAD

YEARLY LOW

2.1550 MAD

YEARLY AVERAGE

2.2429 MAD

2014 SAR to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the SAR to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 2.4137. Conversely, the yearly low was recorded on March 17, dropping to 2.1550.

This high-to-low spread represents a total annual volatility of 0.2587 MAD. From a start-to-finish perspective, comparing the January average rate of 2.1951 to the December average rate of 2.3817, the exchange rate registered a net change of 8.50% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 2.4137 was up 4.55% compared to the 2013 peak of 2.3085, 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 12,068 MAD

2013 Average 11,209 MAD

Yearly Trough Low 10,775 MAD

Transaction Impact: A difference of 1,293.26 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

2.4030

2.1473

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 2.1840, compared to 2.3018 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1178 points.

H1 Avg (Jan–Jun) 2.1840

H2 Avg (Jul–Dec) 2.3018

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 0.0726 MAD (High: 2.3340 / Low: 2.2614). On the other end, June was the most stable month, with a tight range of 0.0204 MAD (High: 2.2076 / Low: 2.1872).

September Spread (Volatile) ±0.0726

June Spread (Stable) ±0.0204

Growth Streaks & Declines

Trends

Between March and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 9 straight months. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 0.0218 points.

Longest Streak 9 Mo.

Sharpest MoM Drop -0.0218

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 2.3817) against the same month in 2013 (average: 2.1877), the exchange rate shifted by +0.1940 (+8.87%).

2014 Avg (December) 2.3817

2013 Avg (December) 2.1877

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.2102	2.1790	2.1951
February	2.2133	2.1732	2.1904
March	2.1806	2.1550	2.1686
April	2.1842	2.1615	2.1694
May	2.1982	2.1589	2.1812
June	2.2076	2.1872	2.1990
July	2.2270	2.1915	2.2071
August	2.2620	2.2208	2.2361
September	2.3340	2.2614	2.2974
October	2.3552	2.3128	2.3304
November	2.3697	2.3455	2.3581
December	2.4137	2.3512	2.3817