2014 MKD to RSD Historical Review

YEARLY HIGH

1.9990 RSD

YEARLY LOW

1.8558 RSD

YEARLY AVERAGE

1.9043 RSD

2014 MKD to RSD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the MKD to RSD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 17, valuing the pair at 1.9990. Conversely, the yearly low was recorded on March 30, dropping to 1.8558.

This high-to-low spread represents a total annual volatility of 0.1432 RSD. From a start-to-finish perspective, comparing the January average rate of 1.8755 to the December average rate of 1.9761, the exchange rate registered a net change of 5.36% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 1.9990 was up 4.66% compared to the 2013 peak of 1.9100, 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 9,995 RSD

2013 Average 9,152 RSD

Yearly Trough Low 9,279 RSD

Transaction Impact: A difference of 716.20 RSD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

1.9862

1.8645

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 1.8765, compared to 1.9322 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0557 points.

H1 Avg (Jan–Jun) 1.8765

H2 Avg (Jul–Dec) 1.9322

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 0.0513 RSD (High: 1.9475 / Low: 1.8963). On the other end, June was the most stable month, with a tight range of 0.0091 RSD (High: 1.8799 / Low: 1.8708).

September Spread (Volatile) ±0.0513

June Spread (Stable) ±0.0091

Growth Streaks & Declines

Trends

Between June and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 6 straight months. Conversely, the sharpest month-over-month decline occurred between May and June, when the average rate fell by 0.0037 points.

Longest Streak 6 Mo.

Sharpest MoM Drop -0.0037

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 1.9761) against the same month in 2013 (average: 1.8623), the exchange rate shifted by +0.1137 (+6.11%).

2014 Avg (December) 1.9761

2013 Avg (December) 1.8623

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.8842	1.8619	1.8755
February	1.8855	1.8671	1.8783
March	1.8896	1.8558	1.8768
April	1.8825	1.8681	1.8753
May	1.8903	1.8696	1.8783
June	1.8799	1.8708	1.8746
July	1.9192	1.8748	1.8921
August	1.9234	1.8966	1.9116
September	1.9475	1.8963	1.9325
October	1.9451	1.9205	1.9363
November	1.9599	1.9301	1.9444
December	1.9990	1.9587	1.9761