2011 ETB to MKD Historical Review

YEARLY HIGH

3.7372 MKD

YEARLY LOW

2.4503 MKD

YEARLY AVERAGE

2.8219 MKD

2011 ETB to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the ETB to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 10, valuing the pair at 3.7372. Conversely, the yearly low was recorded on May 4, dropping to 2.4503.

This high-to-low spread represents a total annual volatility of 1.2869 MKD. From a start-to-finish perspective, comparing the January average rate of 3.6087 to the December average rate of 2.7007, the exchange rate registered a net change of -25.16% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2011 high of 3.7372 was down 18.61% compared to the 2010 peak of 4.5918, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 18,686 MKD

2010 Average 20,034 MKD

Yearly Trough Low 12,251 MKD

Transaction Impact: A difference of 6,434.49 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

3.7185

2.4015

JanuMarcMayJulySeptNove

ETB 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 3.0438, compared to 2.5999 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.4440 points.

H1 Avg (Jan–Jun) 3.0438

H2 Avg (Jul–Dec) 2.5999

Volatility Range Comparison

Volatility

The most volatile month in 2011 was April, with a trading range of 0.9365 MKD (High: 3.3901 / Low: 2.4536). On the other end, August was the most stable month, with a tight range of 0.0669 MKD (High: 2.5485 / Low: 2.4816).

April Spread (Volatile) ±0.9365

August Spread (Stable) ±0.0669

Growth Streaks & Declines

Trends

Between August and December, 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 March and April, when the average rate fell by 0.7948 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.7948

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2011: 3.6087) against the same month in 2010 (average: 3.9950), the exchange rate shifted by -0.3862 (-9.67%).

2011 Avg (January) 3.6087

2010 Avg (January) 3.9950

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	3.7372	3.5110	3.6087
February	3.5794	3.4730	3.5260
March	3.4865	3.3752	3.4298
April	3.3901	2.4536	2.6350
May	2.5900	2.4503	2.5393
June	2.5753	2.4829	2.5242
July	2.5877	2.4863	2.5301
August	2.5485	2.4816	2.5112
September	2.6713	2.5162	2.6052
October	2.7206	2.5290	2.6138
November	2.6946	2.5933	2.6381
December	2.7581	2.6414	2.7007