2018 TOP to MAD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2018.
2018 TOP to MAD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2018
During 2018, the TOP to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 14, valuing the pair at 4.2678. Conversely, the yearly low was recorded on September 22, dropping to 4.0450.
This high-to-low spread represents a total annual volatility of 0.2227 MAD. From a start-to-finish perspective, comparing the January average rate of 4.1178 to the December average rate of 4.1890, the exchange rate registered a net change of 1.73% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2018 high of 4.2678 was down 5.38% compared to the 2017 peak of 4.5104, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 TOP based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2018.
TOP to MAD Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 4.1429, compared to 4.1184 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0245 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2018 was May, with a trading range of 0.1452 MAD (High: 4.2440 / Low: 4.0989). On the other end, September was the most stable month, with a tight range of 0.0470 MAD (High: 4.0921 / Low: 4.0450).
Growth Streaks & Declines
TrendsBetween September and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.0699 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2018: 4.1890) against the same month in 2017 (average: 4.1182), the exchange rate shifted by +0.0708 (+1.72%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 4.1578 | 4.0749 | 4.1178 |
| February | 4.1764 | 4.0957 | 4.1509 |
| March | 4.1595 | 4.0947 | 4.1308 |
| April | 4.1954 | 4.1079 | 4.1428 |
| May | 4.2440 | 4.0989 | 4.1596 |
| June | 4.2005 | 4.1120 | 4.1556 |
| July | 4.1174 | 4.0554 | 4.0858 |
| August | 4.1447 | 4.0602 | 4.1042 |
| September | 4.0921 | 4.0450 | 4.0711 |
| October | 4.1554 | 4.0847 | 4.1144 |
| November | 4.1821 | 4.1275 | 4.1461 |
| December | 4.2678 | 4.1386 | 4.1890 |