2023 MKD to ILS Historical Review

YEARLY HIGH

0.0704 ILS

YEARLY LOW

0.0593 ILS

YEARLY AVERAGE

0.0647 ILS

2023 MKD to ILS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MKD to ILS exchange rate experienced significant fluctuation. The market reached its absolute peak on October 23, valuing the pair at 0.0704. Conversely, the yearly low was recorded on January 18, dropping to 0.0593.

This high-to-low spread represents a total annual volatility of 0.0110 ILS. From a start-to-finish perspective, comparing the January average rate of 0.0602 to the December average rate of 0.0650, the exchange rate registered a net change of 7.89% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0704 was up 15.15% compared to the 2022 peak of 0.0611, 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 352 ILS

2022 Average 287 ILS

Yearly Trough Low 297 ILS

Transaction Impact: A difference of 55.22 ILS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0691

0.0594

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 0.0630, compared to 0.0664 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0034 points.

H1 Avg (Jan–Jun) 0.0630

H2 Avg (Jul–Dec) 0.0664

Volatility Range Comparison

Volatility

The most volatile month in 2023 was October, with a trading range of 0.0049 ILS (High: 0.0704 / Low: 0.0655). On the other end, December was the most stable month, with a tight range of 0.0013 ILS (High: 0.0657 / Low: 0.0644).

October Spread (Volatile) ±0.0049

December Spread (Stable) ±0.0013

Growth Streaks & Declines

Trends

Between January and May, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between November and December, when the average rate fell by 0.0018 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0018

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (October 2023: 0.0683) against the same month in 2022 (average: 0.0565), the exchange rate shifted by +0.0118 (+20.92%).

2023 Avg (October) 0.0683

2022 Avg (October) 0.0565

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0611	0.0593	0.0602
February	0.0631	0.0600	0.0616
March	0.0640	0.0613	0.0628
April	0.0662	0.0634	0.0648
May	0.0653	0.0637	0.0648
June	0.0654	0.0624	0.0640
July	0.0668	0.0647	0.0658
August	0.0673	0.0649	0.0663
September	0.0669	0.0654	0.0662
October	0.0704	0.0655	0.0683
November	0.0686	0.0656	0.0668
December	0.0657	0.0644	0.0650