2011 HTG to MKD Historical Review

YEARLY HIGH

1.1816 MKD

YEARLY LOW

1.0092 MKD

YEARLY AVERAGE

1.0871 MKD

2011 HTG to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the HTG to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 10, valuing the pair at 1.1816. Conversely, the yearly low was recorded on May 4, dropping to 1.0092.

This high-to-low spread represents a total annual volatility of 0.1723 MKD. From a start-to-finish perspective, comparing the January average rate of 1.1408 to the December average rate of 1.1516, the exchange rate registered a net change of 0.95% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 1.1816 was down 7.45% compared to the 2010 peak of 1.2767, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 5,908 MKD

2010 Average 5,770 MKD

Yearly Trough Low 5,046 MKD

Transaction Impact: A difference of 861.61 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

1.1623

1.0343

JanuMarcMayJulySeptNove

HTG 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 1.0778, compared to 1.0965 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0187 points.

H1 Avg (Jan–Jun) 1.0778

H2 Avg (Jul–Dec) 1.0965

Volatility Range Comparison

Volatility

The most volatile month in 2011 was January, with a trading range of 0.0853 MKD (High: 1.1816 / Low: 1.0963). On the other end, August was the most stable month, with a tight range of 0.0266 MKD (High: 1.0691 / Low: 1.0425).

January Spread (Volatile) ±0.0853

August Spread (Stable) ±0.0266

Growth Streaks & Declines

Trends

Between August and December, 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 January and February, when the average rate fell by 0.0374 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0374

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2011: 1.1408) against the same month in 2010 (average: 1.0706), the exchange rate shifted by +0.0702 (+6.56%).

2011 Avg (January) 1.1408

2010 Avg (January) 1.0706

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.1816	1.0963	1.1408
February	1.1176	1.0884	1.1034
March	1.0932	1.0574	1.0780
April	1.0749	1.0172	1.0449
May	1.0845	1.0092	1.0501
June	1.0725	1.0326	1.0495
July	1.0880	1.0388	1.0597
August	1.0691	1.0425	1.0548
September	1.1255	1.0579	1.0969
October	1.1397	1.0606	1.0988
November	1.1484	1.0909	1.1169
December	1.1813	1.1195	1.1516