2014 BTN to MKD Historical Review

YEARLY HIGH

0.8082 MKD

YEARLY LOW

0.7143 MKD

YEARLY AVERAGE

0.7604 MKD

2014 BTN to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the BTN to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on November 6, valuing the pair at 0.8082. Conversely, the yearly low was recorded on January 27, dropping to 0.7143.

This high-to-low spread represents a total annual volatility of 0.0939 MKD. From a start-to-finish perspective, comparing the January average rate of 0.7278 to the December average rate of 0.7960, the exchange rate registered a net change of 9.37% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 0.8082 was down 8.80% compared to the 2013 peak of 0.8861, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 4,041 MKD

2013 Average 3,995 MKD

Yearly Trough Low 3,571 MKD

Transaction Impact: A difference of 469.71 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

0.8095

0.7183

JanuMarcMayJulySeptNove

BTN 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 0.7398, compared to 0.7811 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0413 points.

H1 Avg (Jan–Jun) 0.7398

H2 Avg (Jul–Dec) 0.7811

Volatility Range Comparison

Volatility

The most volatile month in 2014 was May, with a trading range of 0.0375 MKD (High: 0.7738 / Low: 0.7363). On the other end, February was the most stable month, with a tight range of 0.0080 MKD (High: 0.7300 / Low: 0.7221).

May Spread (Volatile) ±0.0375

February Spread (Stable) ±0.0080

Growth Streaks & Declines

Trends

Between February and June, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between November and December, when the average rate fell by 0.0059 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0059

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2014: 0.8019) against the same month in 2013 (average: 0.7261), the exchange rate shifted by +0.0757 (+10.43%).

2014 Avg (November) 0.8019

2013 Avg (November) 0.7261

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.7378	0.7143	0.7278
February	0.7300	0.7221	0.7259
March	0.7495	0.7223	0.7314
April	0.7482	0.7310	0.7394
May	0.7738	0.7363	0.7554
June	0.7662	0.7515	0.7587
July	0.7591	0.7503	0.7556
August	0.7715	0.7440	0.7579
September	0.7924	0.7713	0.7830
October	0.7978	0.7838	0.7921
November	0.8082	0.7940	0.8019
December	0.8058	0.7779	0.7960