2020 HNL to MKD Historical Review

YEARLY HIGH

2.3172 MKD

YEARLY LOW

2.0699 MKD

YEARLY AVERAGE

2.1855 MKD

2020 HNL to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2020

During 2020, the HNL to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on February 20, valuing the pair at 2.3172. Conversely, the yearly low was recorded on December 30, dropping to 2.0699.

This high-to-low spread represents a total annual volatility of 0.2473 MKD. From a start-to-finish perspective, comparing the January average rate of 2.2347 to the December average rate of 2.0885, the exchange rate registered a net change of -6.54% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2020 high of 2.3172 was down 38.12% compared to the 2019 peak of 3.7450, 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 11,586 MKD

2019 Average 11,203 MKD

Yearly Trough Low 10,350 MKD

Transaction Impact: A difference of 1,236.61 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2020.

2.2966

2.0695

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 2.2480, compared to 2.1231 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.1249 points.

H1 Avg (Jan–Jun) 2.2480

H2 Avg (Jul–Dec) 2.1231

Volatility Range Comparison

Volatility

The most volatile month in 2020 was March, with a trading range of 0.1397 MKD (High: 2.3101 / Low: 2.1704). On the other end, October was the most stable month, with a tight range of 0.0295 MKD (High: 2.1481 / Low: 2.1186).

March Spread (Volatile) ±0.1397

October Spread (Stable) ±0.0295

Growth Streaks & Declines

Trends

Between August and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between May and June, when the average rate fell by 0.0657 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0657

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (February 2020: 2.2747) against the same month in 2019 (average: 2.2156), the exchange rate shifted by +0.0591 (+2.67%).

2020 Avg (February) 2.2747

2019 Avg (February) 2.2156

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.2541	2.1843	2.2347
February	2.3172	2.2458	2.2747
March	2.3101	2.1704	2.2406
April	2.2961	2.2500	2.2777
May	2.2844	2.2170	2.2629
June	2.2202	2.1755	2.1972
July	2.2046	2.0853	2.1632
August	2.1249	2.0853	2.1078
September	2.1482	2.0947	2.1153
October	2.1481	2.1186	2.1308
November	2.1558	2.1160	2.1331
December	2.1189	2.0699	2.0885