2021 HNL to MKD Historical Review

YEARLY HIGH

2.2809 MKD

YEARLY LOW

2.0085 MKD

YEARLY AVERAGE

2.1610 MKD

2021 HNL to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2021

During 2021, the HNL to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on November 25, valuing the pair at 2.2809. Conversely, the yearly low was recorded on January 6, dropping to 2.0085.

This high-to-low spread represents a total annual volatility of 0.2724 MKD. From a start-to-finish perspective, comparing the January average rate of 2.0887 to the December average rate of 2.2441, the exchange rate registered a net change of 7.44% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2021 high of 2.2809 was down 1.57% compared to the 2020 peak of 2.3172, 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 11,405 MKD

2020 Average 10,926 MKD

Yearly Trough Low 10,043 MKD

Transaction Impact: A difference of 1,361.99 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2021.

2.2596

2.0732

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 2.1169, compared to 2.2051 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0882 points.

H1 Avg (Jan–Jun) 2.1169

H2 Avg (Jul–Dec) 2.2051

Volatility Range Comparison

Volatility

The most volatile month in 2021 was January, with a trading range of 0.1059 MKD (High: 2.1144 / Low: 2.0085). On the other end, October was the most stable month, with a tight range of 0.0341 MKD (High: 2.2166 / Low: 2.1826).

January Spread (Volatile) ±0.1059

October Spread (Stable) ±0.0341

Growth Streaks & Declines

Trends

Between May and August, 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 April and May, when the average rate fell by 0.0338 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0338

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2021: 2.2360) against the same month in 2020 (average: 2.1331), the exchange rate shifted by +0.1030 (+4.83%).

2021 Avg (November) 2.2360

2020 Avg (November) 2.1331

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.1144	2.0085	2.0887
February	2.1239	2.0828	2.1025
March	2.1790	2.0989	2.1398
April	2.1830	2.1027	2.1389
May	2.1290	2.0854	2.1051
June	2.1709	2.0926	2.1262
July	2.2081	2.1625	2.1816
August	2.2211	2.1735	2.2014
September	2.2017	2.1565	2.1695
October	2.2166	2.1826	2.1980
November	2.2809	2.1973	2.2360
December	2.2643	2.2274	2.2441