2011 MKD to ILS Historical Review

YEARLY HIGH

0.0849 ILS

YEARLY LOW

0.0748 ILS

YEARLY AVERAGE

0.0811 ILS

2011 MKD to ILS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the MKD to ILS exchange rate experienced significant fluctuation. The market reached its absolute peak on August 25, valuing the pair at 0.0849. Conversely, the yearly low was recorded on January 11, dropping to 0.0748.

This high-to-low spread represents a total annual volatility of 0.0101 ILS. From a start-to-finish perspective, comparing the January average rate of 0.0782 to the December average rate of 0.0811, the exchange rate registered a net change of 3.68% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 0.0849 was down 4.52% compared to the 2010 peak of 0.0889, 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 424 ILS

2010 Average 403 ILS

Yearly Trough Low 374 ILS

Transaction Impact: A difference of 50.34 ILS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

0.0834

0.0777

JanuMarcMayJulySeptNove

MKD to ILS 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 0.0805, compared to 0.0817 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0013 points.

H1 Avg (Jan–Jun) 0.0805

H2 Avg (Jul–Dec) 0.0817

Volatility Range Comparison

Volatility

The most volatile month in 2011 was January, with a trading range of 0.0081 ILS (High: 0.0829 / Low: 0.0748). On the other end, June was the most stable month, with a tight range of 0.0011 ILS (High: 0.0806 / Low: 0.0796).

January Spread (Volatile) ±0.0081

June Spread (Stable) ±0.0011

Growth Streaks & Declines

Trends

No sustained consecutive month-over-month growth streak of 2+ months occurred in 2011. Conversely, the sharpest month-over-month decline occurred between November and December, when the average rate fell by 0.0012 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0012

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2011: 0.0829) against the same month in 2010 (average: 0.0797), the exchange rate shifted by +0.0032 (+4.04%).

2011 Avg (August) 0.0829

2010 Avg (August) 0.0797

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0829	0.0748	0.0782
February	0.0829	0.0794	0.0814
March	0.0822	0.0803	0.0813
April	0.0821	0.0799	0.0808
May	0.0825	0.0799	0.0811
June	0.0806	0.0796	0.0800
July	0.0804	0.0788	0.0795
August	0.0849	0.0798	0.0829
September	0.0845	0.0812	0.0828
October	0.0830	0.0805	0.0819
November	0.0828	0.0816	0.0823
December	0.0825	0.0800	0.0811