2014 MKD to ARS Historical Review

YEARLY HIGH

0.1816 ARS

YEARLY LOW

0.1454 ARS

YEARLY AVERAGE

0.1749 ARS

2014 MKD to ARS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the MKD to ARS exchange rate experienced significant fluctuation. The market reached its absolute peak on August 24, valuing the pair at 0.1816. Conversely, the yearly low was recorded on January 2, dropping to 0.1454.

This high-to-low spread represents a total annual volatility of 0.0362 ARS. From a start-to-finish perspective, comparing the January average rate of 0.1547 to the December average rate of 0.1710, the exchange rate registered a net change of 10.59% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 0.1816 was up 24.26% compared to the 2013 peak of 0.1461, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 908 ARS

2013 Average 590 ARS

Yearly Trough Low 727 ARS

Transaction Impact: A difference of 181.07 ARS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

0.1828

0.1521

JanuMarcMayJulySeptNove

MKD to ARS 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 0.1741, compared to 0.1757 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0016 points.

H1 Avg (Jan–Jun) 0.1741

H2 Avg (Jul–Dec) 0.1757

Volatility Range Comparison

Volatility

The most volatile month in 2014 was January, with a trading range of 0.0319 ARS (High: 0.1773 / Low: 0.1454). On the other end, July was the most stable month, with a tight range of 0.0013 ARS (High: 0.1804 / Low: 0.1791).

January Spread (Volatile) ±0.0319

July Spread (Stable) ±0.0013

Growth Streaks & Declines

Trends

Between January and April, 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 0.0035 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0035

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2014: 0.1802) against the same month in 2013 (average: 0.1204), the exchange rate shifted by +0.0598 (+49.65%).

2014 Avg (August) 0.1802

2013 Avg (August) 0.1204

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.1773	0.1454	0.1547
February	0.1761	0.1722	0.1740
March	0.1792	0.1757	0.1777
April	0.1803	0.1778	0.1794
May	0.1809	0.1782	0.1793
June	0.1800	0.1784	0.1793
July	0.1804	0.1791	0.1797
August	0.1816	0.1794	0.1802
September	0.1798	0.1727	0.1767
October	0.1758	0.1729	0.1744
November	0.1734	0.1708	0.1721
December	0.1734	0.1676	0.1710