2018 HNL to MKD Historical Review

YEARLY HIGH

2.3766 MKD

YEARLY LOW

2.0833 MKD

YEARLY AVERAGE

2.1811 MKD

2018 HNL to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2018

During 2018, the HNL to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 5, valuing the pair at 2.3766. Conversely, the yearly low was recorded on February 1, dropping to 2.0833.

This high-to-low spread represents a total annual volatility of 0.2933 MKD. From a start-to-finish perspective, comparing the January average rate of 2.1363 to the December average rate of 2.2305, the exchange rate registered a net change of 4.41% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2018 high of 2.3766 was down 6.81% compared to the 2017 peak of 2.5502, 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 11,883 MKD

2017 Average 11,637 MKD

Yearly Trough Low 10,416 MKD

Transaction Impact: A difference of 1,466.39 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2018.

2.2422

2.1013

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 2.1448, compared to 2.2174 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0725 points.

H1 Avg (Jan–Jun) 2.1448

H2 Avg (Jul–Dec) 2.2174

Volatility Range Comparison

Volatility

The most volatile month in 2018 was December, with a trading range of 0.1769 MKD (High: 2.3766 / Low: 2.1996). On the other end, July was the most stable month, with a tight range of 0.0281 MKD (High: 2.2093 / Low: 2.1812).

December Spread (Volatile) ±0.1769

July Spread (Stable) ±0.0281

Growth Streaks & Declines

Trends

Between March and August, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between August and September, when the average rate fell by 0.0257 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0257

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2018: 2.2305) against the same month in 2017 (average: 2.1994), the exchange rate shifted by +0.0310 (+1.41%).

2018 Avg (December) 2.2305

2017 Avg (December) 2.1994

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.1831	2.0957	2.1363
February	2.1388	2.0833	2.1137
March	2.1257	2.0915	2.1130
April	2.1544	2.0992	2.1199
May	2.2333	2.1552	2.1911
June	2.2184	2.1641	2.1950
July	2.2093	2.1812	2.1970
August	2.2595	2.1908	2.2234
September	2.2181	2.1710	2.1977
October	2.2606	2.2036	2.2260
November	2.2638	2.2121	2.2297
December	2.3766	2.1996	2.2305