2011 HNL to MKD Historical Review

YEARLY HIGH

2.5136 MKD

YEARLY LOW

2.1794 MKD

YEARLY AVERAGE

2.3339 MKD

2011 HNL to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the HNL to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 10, valuing the pair at 2.5136. Conversely, the yearly low was recorded on May 4, dropping to 2.1794.

This high-to-low spread represents a total annual volatility of 0.3343 MKD. From a start-to-finish perspective, comparing the January average rate of 2.4274 to the December average rate of 2.4576, the exchange rate registered a net change of 1.25% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 2.5136 was down 7.45% compared to the 2010 peak of 2.7159, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 12,568 MKD

2010 Average 12,250 MKD

Yearly Trough Low 10,897 MKD

Transaction Impact: A difference of 1,671.32 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

2.4789

2.2241

JanuMarcMayJulySeptNove

HNL 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 2.3141, compared to 2.3536 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0395 points.

H1 Avg (Jan–Jun) 2.3141

H2 Avg (Jul–Dec) 2.3536

Volatility Range Comparison

Volatility

The most volatile month in 2011 was October, with a trading range of 0.1780 MKD (High: 2.4613 / Low: 2.2833). On the other end, August was the most stable month, with a tight range of 0.0617 MKD (High: 2.3093 / Low: 2.2476).

October Spread (Volatile) ±0.1780

August Spread (Stable) ±0.0617

Growth Streaks & Declines

Trends

Between June and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 6 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.0733 points.

Longest Streak 6 Mo.

Sharpest MoM Drop -0.0733

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2011: 2.4274) against the same month in 2010 (average: 2.2740), the exchange rate shifted by +0.1534 (+6.75%).

2011 Avg (January) 2.4274

2010 Avg (January) 2.2740

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.5136	2.3647	2.4274
February	2.4132	2.3462	2.3775
March	2.3549	2.2804	2.3186
April	2.2950	2.1839	2.2453
May	2.3149	2.1794	2.2599
June	2.3022	2.2151	2.2560
July	2.3221	2.2383	2.2736
August	2.3093	2.2476	2.2761
September	2.4187	2.2789	2.3594
October	2.4613	2.2833	2.3631
November	2.4510	2.3434	2.3920
December	2.5114	2.4021	2.4576