2023 ZAR to MAD Historical Review

YEARLY HIGH

0.6186 MAD

YEARLY LOW

0.5098 MAD

YEARLY AVERAGE

0.5494 MAD

2023 ZAR to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the ZAR to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 4, valuing the pair at 0.6186. Conversely, the yearly low was recorded on July 8, dropping to 0.5098.

This high-to-low spread represents a total annual volatility of 0.1088 MAD. From a start-to-finish perspective, comparing the January average rate of 0.5993 to the December average rate of 0.5400, the exchange rate registered a net change of -9.89% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.6186 was down 8.53% compared to the 2022 peak of 0.6763, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 50,000 ZAR based on timing:

Yearly Peak High 30,932 MAD

2022 Average 31,061 MAD

Yearly Trough Low 25,492 MAD

Transaction Impact: A difference of 5,439.75 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.6065

0.5200

JanuMarcMayJulySeptNove

ZAR 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 0.5605, compared to 0.5383 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0222 points.

H1 Avg (Jan–Jun) 0.5605

H2 Avg (Jul–Dec) 0.5383

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 0.0474 MAD (High: 0.5572 / Low: 0.5098). On the other end, September was the most stable month, with a tight range of 0.0173 MAD (High: 0.5485 / Low: 0.5312).

July Spread (Volatile) ±0.0474

September Spread (Stable) ±0.0173

Growth Streaks & Declines

Trends

Between August and November, 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 April and May, when the average rate fell by 0.0283 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0283

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.5993) against the same month in 2022 (average: 0.5995), the exchange rate shifted by -0.0002 (-0.03%).

2023 Avg (January) 0.5993

2022 Avg (January) 0.5995

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.6186	0.5838	0.5993
February	0.5969	0.5647	0.5748
March	0.5746	0.5436	0.5654
April	0.5746	0.5397	0.5577
May	0.5471	0.5153	0.5294
June	0.5525	0.5182	0.5365
July	0.5572	0.5098	0.5349
August	0.5486	0.5121	0.5272
September	0.5485	0.5312	0.5395
October	0.5514	0.5273	0.5398
November	0.5601	0.5339	0.5482
December	0.5527	0.5288	0.5400