2023 MKD to BIF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 MKD to BIF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the MKD to BIF exchange rate experienced significant fluctuation. The market reached its absolute peak on July 14, valuing the pair at 51.7110. Conversely, the yearly low was recorded on January 7, dropping to 35.2188.
This high-to-low spread represents a total annual volatility of 16.4922 BIF. From a start-to-finish perspective, comparing the January average rate of 36.1847 to the December average rate of 50.5617, the exchange rate registered a net change of 39.73% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 51.7110 was up 38.43% compared to the 2022 peak of 37.3547, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 MKD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
MKD to BIF 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 39.5445, compared to 49.8962 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 10.3517 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was May, with a trading range of 13.0380 BIF (High: 49.4606 / Low: 36.4227). On the other end, April was the most stable month, with a tight range of 0.8400 BIF (High: 37.4569 / Low: 36.6169).
Growth Streaks & Declines
TrendsBetween February and July, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between August and September, when the average rate fell by 1.0083 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (July 2023: 50.8058) against the same month in 2022 (average: 34.0240), the exchange rate shifted by +16.7818 (+49.32%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 36.7103 | 35.2188 | 36.1847 |
| February | 36.7370 | 35.4597 | 36.0408 |
| March | 36.8626 | 35.5661 | 36.0820 |
| April | 37.4569 | 36.6169 | 37.0431 |
| May | 49.4606 | 36.4227 | 42.1596 |
| June | 50.5168 | 48.9254 | 49.7568 |
| July | 51.7110 | 49.8716 | 50.8058 |
| August | 50.7091 | 49.5716 | 50.2109 |
| September | 49.8580 | 48.5210 | 49.2026 |
| October | 49.2021 | 48.3287 | 48.7332 |
| November | 50.7756 | 48.4716 | 49.8628 |
| December | 51.6190 | 49.7847 | 50.5617 |