2021 BND to MKD Historical Review

YEARLY HIGH

40.3325 MKD

YEARLY LOW

37.8182 MKD

YEARLY AVERAGE

38.7684 MKD

2021 BND to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2021

During 2021, the BND to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 40.3325. Conversely, the yearly low was recorded on May 20, dropping to 37.8182.

This high-to-low spread represents a total annual volatility of 2.5143 MKD. From a start-to-finish perspective, comparing the January average rate of 38.1666 to the December average rate of 39.9721, the exchange rate registered a net change of 4.73% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2021 high of 40.3325 was down 2.40% compared to the 2020 peak of 41.3242, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 201,663 MKD

2020 Average 195,918 MKD

Yearly Trough Low 189,091 MKD

Transaction Impact: A difference of 12,571.74 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2021.

40.1547

37.9640

JanuMarcMayJulySeptNove

BND to MKD 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 38.3727, compared to 39.1640 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.7913 points.

H1 Avg (Jan–Jun) 38.3727

H2 Avg (Jul–Dec) 39.1640

Volatility Range Comparison

Volatility

The most volatile month in 2021 was November, with a trading range of 0.9171 MKD (High: 40.2632 / Low: 39.3461). On the other end, February was the most stable month, with a tight range of 0.2702 MKD (High: 38.5380 / Low: 38.2678).

November Spread (Volatile) ±0.9171

February Spread (Stable) ±0.2702

Growth Streaks & Declines

Trends

Between May and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 7 straight months. Conversely, the sharpest month-over-month decline occurred between April and May, when the average rate fell by 0.4335 points.

Longest Streak 7 Mo.

Sharpest MoM Drop -0.4335

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2021: 39.9721) against the same month in 2020 (average: 37.9999), the exchange rate shifted by +1.9722 (+5.19%).

2021 Avg (December) 39.9721

2020 Avg (December) 37.9999

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	38.4007	37.8929	38.1666
February	38.5380	38.2678	38.3928
March	39.0817	38.1788	38.6017
April	38.9883	38.2557	38.5800
May	38.4318	37.8182	38.1465
June	38.6376	38.1035	38.3488
July	38.7920	38.1897	38.4682
August	38.8302	38.2103	38.6443
September	39.0731	38.5837	38.8043
October	39.4979	39.0727	39.3076
November	40.2632	39.3461	39.7875
December	40.3325	39.7798	39.9721