2011 MKD to RSD Historical Review

YEARLY HIGH

1.7325 RSD

YEARLY LOW

1.5653 RSD

YEARLY AVERAGE

1.6564 RSD

2011 MKD to RSD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the MKD to RSD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 4, valuing the pair at 1.7325. Conversely, the yearly low was recorded on May 23, dropping to 1.5653.

This high-to-low spread represents a total annual volatility of 0.1672 RSD. From a start-to-finish perspective, comparing the January average rate of 1.7087 to the December average rate of 1.6778, the exchange rate registered a net change of -1.80% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2011 high of 1.7325 was down 6.89% compared to the 2010 peak of 1.8608, 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 8,663 RSD

2010 Average 8,379 RSD

Yearly Trough Low 7,827 RSD

Transaction Impact: A difference of 836.12 RSD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

1.7198

1.5861

JanuMarcMayJulySeptNove

MKD to RSD 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 1.6557, compared to 1.6571 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0014 points.

H1 Avg (Jan–Jun) 1.6557

H2 Avg (Jul–Dec) 1.6571

Volatility Range Comparison

Volatility

The most volatile month in 2011 was June, with a trading range of 0.0941 RSD (High: 1.6636 / Low: 1.5695). On the other end, March was the most stable month, with a tight range of 0.0355 RSD (High: 1.6968 / Low: 1.6613).

June Spread (Volatile) ±0.0941

March Spread (Stable) ±0.0355

Growth Streaks & Declines

Trends

Between May and August, 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 April and May, when the average rate fell by 0.0517 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0517

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2011: 1.7087) against the same month in 2010 (average: 1.5784), the exchange rate shifted by +0.1303 (+8.25%).

2011 Avg (January) 1.7087

2010 Avg (January) 1.5784

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.7325	1.6917	1.7087
February	1.7023	1.6656	1.6806
March	1.6968	1.6613	1.6787
April	1.6748	1.6199	1.6489
May	1.6246	1.5653	1.5972
June	1.6636	1.5695	1.6201
July	1.7026	1.6252	1.6596
August	1.6947	1.6381	1.6624
September	1.6702	1.6250	1.6411
October	1.6638	1.6133	1.6343
November	1.6923	1.6177	1.6670
December	1.7183	1.6566	1.6778