2023 GEL to MKD Historical Review

YEARLY HIGH

22.6528 MKD

YEARLY LOW

20.5983 MKD

YEARLY AVERAGE

21.7097 MKD

2023 GEL to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the GEL to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on March 8, valuing the pair at 22.6528. Conversely, the yearly low was recorded on December 28, dropping to 20.5983.

This high-to-low spread represents a total annual volatility of 2.0545 MKD. From a start-to-finish perspective, comparing the January average rate of 21.4542 to the December average rate of 20.9965, the exchange rate registered a net change of -2.13% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 22.6528 was down 1.61% compared to the 2022 peak of 23.0245, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 113,264 MKD

2022 Average 100,967 MKD

Yearly Trough Low 102,992 MKD

Transaction Impact: A difference of 10,272.37 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

22.4417

20.8651

JanuMarcMayJulySeptNove

GEL 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 21.9790, compared to 21.4405 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.5385 points.

H1 Avg (Jan–Jun) 21.9790

H2 Avg (Jul–Dec) 21.4405

Volatility Range Comparison

Volatility

The most volatile month in 2023 was December, with a trading range of 0.8462 MKD (High: 21.4445 / Low: 20.5983). On the other end, August was the most stable month, with a tight range of 0.2832 MKD (High: 21.7040 / Low: 21.4209).

December Spread (Volatile) ±0.8462

August Spread (Stable) ±0.2832

Growth Streaks & Declines

Trends

Between January and March, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between October and November, when the average rate fell by 0.5898 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.5898

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (March 2023: 22.3103) against the same month in 2022 (average: 17.3564), the exchange rate shifted by +4.9539 (+28.54%).

2023 Avg (March) 22.3103

2022 Avg (March) 17.3564

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	21.7961	21.1611	21.4542
February	22.1449	21.4349	21.7699
March	22.6528	21.9600	22.3103
April	22.5620	21.9317	22.2652
May	22.6105	21.8732	22.2968
June	22.1336	21.3003	21.7776
July	21.8045	21.2723	21.5362
August	21.7040	21.4209	21.5760
September	22.0695	21.4581	21.7810
October	21.9667	21.4295	21.6715
November	21.5438	20.7534	21.0817
December	21.4445	20.5983	20.9965