2023 MAD to MKD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 MAD to MKD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the MAD to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on July 8, valuing the pair at 5.8041. Conversely, the yearly low was recorded on April 16, dropping to 5.4856.
This high-to-low spread represents a total annual volatility of 0.3185 MKD. From a start-to-finish perspective, comparing the January average rate of 5.5885 to the December average rate of 5.6157, the exchange rate registered a net change of 0.49% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 5.8041 was down 3.07% compared to the 2022 peak of 5.9880, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 MAD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
MAD to MKD Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 5.5924, compared to 5.6577 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0653 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was August, with a trading range of 0.2124 MKD (High: 5.7908 / Low: 5.5784). On the other end, February was the most stable month, with a tight range of 0.0693 MKD (High: 5.6167 / Low: 5.5474).
Growth Streaks & Declines
TrendsBetween April and July, 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 August and September, when the average rate fell by 0.0683 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (July 2023: 5.7198) against the same month in 2022 (average: 5.9067), the exchange rate shifted by -0.1868 (-3.16%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 5.6645 | 5.5248 | 5.5885 |
| February | 5.6167 | 5.5474 | 5.5847 |
| March | 5.6017 | 5.5208 | 5.5719 |
| April | 5.6430 | 5.4856 | 5.5419 |
| May | 5.6715 | 5.5610 | 5.6081 |
| June | 5.7277 | 5.6263 | 5.6591 |
| July | 5.8041 | 5.6270 | 5.7198 |
| August | 5.7908 | 5.5784 | 5.7016 |
| September | 5.6917 | 5.5736 | 5.6334 |
| October | 5.7384 | 5.5934 | 5.6696 |
| November | 5.7072 | 5.5437 | 5.6059 |
| December | 5.6621 | 5.5386 | 5.6157 |