2023 MAD to RSD Historical Review

YEARLY HIGH

11.0627 RSD

YEARLY LOW

10.4650 RSD

YEARLY AVERAGE

10.7095 RSD

2023 MAD to RSD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MAD to RSD exchange rate experienced significant fluctuation. The market reached its absolute peak on July 5, valuing the pair at 11.0627. Conversely, the yearly low was recorded on April 16, dropping to 10.4650.

This high-to-low spread represents a total annual volatility of 0.5977 RSD. From a start-to-finish perspective, comparing the January average rate of 10.6344 to the December average rate of 10.6898, the exchange rate registered a net change of 0.52% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 11.0627 was down 3.52% compared to the 2022 peak of 11.4658, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 55,314 RSD

2022 Average 54,998 RSD

Yearly Trough Low 52,325 RSD

Transaction Impact: A difference of 2,988.55 RSD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

10.9207

10.5212

JanuMarcMayJulySeptNove

MAD to RSD 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 10.6453, compared to 10.7737 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1284 points.

H1 Avg (Jan–Jun) 10.6453

H2 Avg (Jul–Dec) 10.7737

Volatility Range Comparison

Volatility

The most volatile month in 2023 was August, with a trading range of 0.4218 RSD (High: 11.0364 / Low: 10.6146). On the other end, November was the most stable month, with a tight range of 0.1972 RSD (High: 10.7713 / Low: 10.5741).

August Spread (Volatile) ±0.4218

November Spread (Stable) ±0.1972

Growth Streaks & Declines

Trends

Between 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 October and November, when the average rate fell by 0.1383 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.1383

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (July 2023: 10.8874) against the same month in 2022 (average: 11.2514), the exchange rate shifted by -0.3640 (-3.23%).

2023 Avg (July) 10.8874

2022 Avg (July) 11.2514

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	10.7572	10.4822	10.6344
February	10.7157	10.4784	10.6439
March	10.6767	10.4692	10.6004
April	10.7492	10.4650	10.5545
May	10.8417	10.5802	10.6785
June	10.8752	10.6325	10.7599
July	11.0627	10.7205	10.8874
August	11.0364	10.6146	10.8586
September	10.8617	10.6425	10.7365
October	10.9430	10.6351	10.8041
November	10.7713	10.5741	10.6658
December	10.7786	10.5326	10.6898