2019 HNL to MKD Historical Review

YEARLY HIGH

3.7450 MKD

YEARLY LOW

2.1703 MKD

YEARLY AVERAGE

2.2403 MKD

2019 HNL to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2019

During 2019, the HNL to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 9, valuing the pair at 3.7450. Conversely, the yearly low was recorded on June 11, dropping to 2.1703.

This high-to-low spread represents a total annual volatility of 1.5747 MKD. From a start-to-finish perspective, comparing the January average rate of 2.2091 to the December average rate of 2.2877, the exchange rate registered a net change of 3.56% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2019 high of 3.7450 was up 57.58% compared to the 2018 peak of 2.3766, 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 18,725 MKD

2018 Average 10,908 MKD

Yearly Trough Low 10,851 MKD

Transaction Impact: A difference of 7,873.46 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2019.

2.2956

2.1997

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 2.2244, compared to 2.2562 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0318 points.

H1 Avg (Jan–Jun) 2.2244

H2 Avg (Jul–Dec) 2.2562

Volatility Range Comparison

Volatility

The most volatile month in 2019 was December, with a trading range of 1.5227 MKD (High: 3.7450 / Low: 2.2222). On the other end, September was the most stable month, with a tight range of 0.0343 MKD (High: 2.2894 / Low: 2.2551).

December Spread (Volatile) ±1.5227

September Spread (Stable) ±0.0343

Growth Streaks & Declines

Trends

Between January and May, 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 May and June, when the average rate fell by 0.0528 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0528

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2019: 2.2877) against the same month in 2018 (average: 2.2305), the exchange rate shifted by +0.0572 (+2.56%).

2019 Avg (December) 2.2877

2018 Avg (December) 2.2305

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.2318	2.1951	2.2091
February	2.2421	2.1932	2.2156
March	2.2429	2.2005	2.2196
April	2.2590	2.2161	2.2339
May	2.3390	2.2284	2.2605
June	2.2618	2.1703	2.2077
July	2.2539	2.1981	2.2210
August	2.2681	2.2251	2.2500
September	2.2894	2.2551	2.2690
October	2.2927	2.2291	2.2541
November	2.2727	2.2348	2.2557
December	3.7450	2.2222	2.2877