2014 VEF to MAD Historical Review

YEARLY HIGH

1.4327 MAD

YEARLY LOW

1.2845 MAD

YEARLY AVERAGE

1.3363 MAD

2014 VEF to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the VEF to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 1.4327. Conversely, the yearly low was recorded on March 18, dropping to 1.2845.

This high-to-low spread represents a total annual volatility of 0.1482 MAD. From a start-to-finish perspective, comparing the January average rate of 1.3084 to the December average rate of 1.4157, the exchange rate registered a net change of 8.20% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 1.4327 was down 28.55% compared to the 2013 peak of 2.0050, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 7,163 MAD

2013 Average 7,390 MAD

Yearly Trough Low 6,422 MAD

Transaction Impact: A difference of 741.08 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

1.4281

1.2802

JanuMarcMayJulySeptNove

VEF 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 1.3016, compared to 1.3709 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0693 points.

H1 Avg (Jan–Jun) 1.3016

H2 Avg (Jul–Dec) 1.3709

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 0.0425 MAD (High: 1.3906 / Low: 1.3482). On the other end, June was the most stable month, with a tight range of 0.0119 MAD (High: 1.3154 / Low: 1.3035).

September Spread (Volatile) ±0.0425

June Spread (Stable) ±0.0119

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 0.0131 points.

Longest Streak 9 Mo.

Sharpest MoM Drop -0.0131

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 1.4157) against the same month in 2013 (average: 1.3039), the exchange rate shifted by +0.1119 (+8.58%).

2014 Avg (December) 1.4157

2013 Avg (December) 1.3039

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.3176	1.2990	1.3084
February	1.3195	1.2954	1.3056
March	1.3000	1.2845	1.2925
April	1.3015	1.2884	1.2930
May	1.3104	1.2866	1.3000
June	1.3154	1.3035	1.3103
July	1.3270	1.3058	1.3153
August	1.3483	1.3237	1.3328
September	1.3906	1.3482	1.3677
October	1.4013	1.3780	1.3882
November	1.4125	1.3978	1.4056
December	1.4327	1.3983	1.4157