2024 GEL to MKD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 GEL to MKD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the GEL to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on April 16, valuing the pair at 21.8142. Conversely, the yearly low was recorded on June 10, dropping to 19.9769.
This high-to-low spread represents a total annual volatility of 1.8373 MKD. From a start-to-finish perspective, comparing the January average rate of 21.0795 to the December average rate of 20.8694, the exchange rate registered a net change of -1.00% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2024 high of 21.8142 was down 3.70% compared to the 2023 peak of 22.6528, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 GEL based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
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)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 21.0892, compared to 20.7881 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.3011 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was May, with a trading range of 1.5402 MKD (High: 21.5854 / Low: 20.0452). On the other end, February was the most stable month, with a tight range of 0.4972 MKD (High: 21.7077 / Low: 21.2105).
Growth Streaks & Declines
TrendsBetween September and November, 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 May and June, when the average rate fell by 0.7178 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (April 2024: 21.4652) against the same month in 2023 (average: 22.2652), the exchange rate shifted by -0.8000 (-3.59%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 21.3807 | 20.7645 | 21.0795 |
| February | 21.7077 | 21.2105 | 21.5052 |
| March | 21.5105 | 20.8470 | 21.1767 |
| April | 21.8142 | 21.1512 | 21.4652 |
| May | 21.5854 | 20.0452 | 21.0132 |
| June | 20.7354 | 19.9769 | 20.2953 |
| July | 21.0243 | 20.3723 | 20.7501 |
| August | 21.0677 | 20.3712 | 20.7306 |
| September | 20.7367 | 20.1921 | 20.5035 |
| October | 20.9748 | 20.2732 | 20.7045 |
| November | 21.5607 | 20.6616 | 21.1703 |
| December | 21.1640 | 20.4009 | 20.8694 |