2023 MKD to PHP Historical Review

YEARLY HIGH

1.0083 PHP

YEARLY LOW

0.9405 PHP

YEARLY AVERAGE

0.9768 PHP

2023 MKD to PHP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MKD to PHP exchange rate experienced significant fluctuation. The market reached its absolute peak on August 11, valuing the pair at 1.0083. Conversely, the yearly low was recorded on March 16, dropping to 0.9405.

This high-to-low spread represents a total annual volatility of 0.0678 PHP. From a start-to-finish perspective, comparing the January average rate of 0.9607 to the December average rate of 0.9847, the exchange rate registered a net change of 2.50% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 1.0083 was up 3.85% compared to the 2022 peak of 0.9710, 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 5,042 PHP

2022 Average 4,653 PHP

Yearly Trough Low 4,703 PHP

Transaction Impact: A difference of 339.22 PHP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

1.0022

0.9465

JanuMarcMayJulySeptNove

MKD to PHP 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 0.9692, compared to 0.9844 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0153 points.

H1 Avg (Jan–Jun) 0.9692

H2 Avg (Jul–Dec) 0.9844

Volatility Range Comparison

Volatility

The most volatile month in 2023 was April, with a trading range of 0.0428 PHP (High: 1.0024 / Low: 0.9596). On the other end, October was the most stable month, with a tight range of 0.0145 PHP (High: 0.9814 / Low: 0.9669).

April Spread (Volatile) ±0.0428

October Spread (Stable) ±0.0145

Growth Streaks & Declines

Trends

Between June and August, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between August and September, when the average rate fell by 0.0122 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0122

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2023: 0.9975) against the same month in 2022 (average: 0.9192), the exchange rate shifted by +0.0783 (+8.52%).

2023 Avg (August) 0.9975

2022 Avg (August) 0.9192

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.9704	0.9435	0.9607
February	0.9629	0.9431	0.9535
March	0.9612	0.9405	0.9511
April	1.0024	0.9596	0.9844
May	0.9936	0.9720	0.9840
June	0.9919	0.9716	0.9814
July	0.9962	0.9744	0.9858
August	1.0083	0.9813	0.9975
September	0.9969	0.9730	0.9853
October	0.9814	0.9669	0.9749
November	0.9898	0.9663	0.9783
December	1.0016	0.9672	0.9847