2014 MKD to TOP Historical Review

YEARLY HIGH

0.0420 TOP

YEARLY LOW

0.0389 TOP

YEARLY AVERAGE

0.0407 TOP

2014 MKD to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the MKD to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on March 17, valuing the pair at 0.0420. Conversely, the yearly low was recorded on December 26, dropping to 0.0389.

This high-to-low spread represents a total annual volatility of 0.0032 TOP. From a start-to-finish perspective, comparing the January average rate of 0.0412 to the December average rate of 0.0393, the exchange rate registered a net change of -4.65% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2014 high of 0.0420 was up 0.93% compared to the 2013 peak of 0.0416, 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 210 TOP

2013 Average 193 TOP

Yearly Trough Low 194 TOP

Transaction Impact: A difference of 15.80 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

0.0419

0.0391

JanuMarcMayJulySeptNove

MKD to TOP 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 0.0413, compared to 0.0401 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0011 points.

H1 Avg (Jan–Jun) 0.0413

H2 Avg (Jul–Dec) 0.0401

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 0.0016 TOP (High: 0.0406 / Low: 0.0390). On the other end, June was the most stable month, with a tight range of 0.0006 TOP (High: 0.0414 / Low: 0.0407).

September Spread (Volatile) ±0.0016

June Spread (Stable) ±0.0006

Growth Streaks & Declines

Trends

Between January and March, 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 November and December, when the average rate fell by 0.0009 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0009

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (March 2014: 0.0416) against the same month in 2013 (average: 0.0369), the exchange rate shifted by +0.0047 (+12.80%).

2014 Avg (March) 0.0416

2013 Avg (March) 0.0369

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0417	0.0409	0.0412
February	0.0417	0.0409	0.0414
March	0.0420	0.0408	0.0416
April	0.0418	0.0406	0.0411
May	0.0418	0.0410	0.0413
June	0.0414	0.0407	0.0410
July	0.0410	0.0397	0.0406
August	0.0410	0.0397	0.0403
September	0.0406	0.0390	0.0400
October	0.0407	0.0397	0.0403
November	0.0405	0.0394	0.0402
December	0.0400	0.0389	0.0393