2023 MKD to ZAR Historical Review

YEARLY HIGH

0.3445 ZAR

YEARLY LOW

0.2907 ZAR

YEARLY AVERAGE

0.3241 ZAR

2023 MKD to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MKD to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on May 25, valuing the pair at 0.3445. Conversely, the yearly low was recorded on January 4, dropping to 0.2907.

This high-to-low spread represents a total annual volatility of 0.0537 ZAR. From a start-to-finish perspective, comparing the January average rate of 0.2987 to the December average rate of 0.3298, the exchange rate registered a net change of 10.42% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.3445 was up 13.27% compared to the 2022 peak of 0.3041, 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 1,722 ZAR

2022 Average 1,397 ZAR

Yearly Trough Low 1,454 ZAR

Transaction Impact: A difference of 268.65 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.3408

0.2948

JanuMarcMayJulySeptNove

MKD to ZAR 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 0.3196, compared to 0.3285 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0089 points.

H1 Avg (Jan–Jun) 0.3196

H2 Avg (Jul–Dec) 0.3285

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 0.0237 ZAR (High: 0.3388 / Low: 0.3151). On the other end, December was the most stable month, with a tight range of 0.0108 ZAR (High: 0.3354 / Low: 0.3247).

July Spread (Volatile) ±0.0237

December Spread (Stable) ±0.0108

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 May and June, when the average rate fell by 0.0075 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0075

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 0.3369) against the same month in 2022 (average: 0.2728), the exchange rate shifted by +0.0642 (+23.52%).

2023 Avg (May) 0.3369

2022 Avg (May) 0.2728

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.3068	0.2907	0.2987
February	0.3170	0.3014	0.3116
March	0.3286	0.3123	0.3175
April	0.3305	0.3140	0.3236
May	0.3445	0.3270	0.3369
June	0.3404	0.3207	0.3295
July	0.3388	0.3151	0.3270
August	0.3390	0.3239	0.3328
September	0.3357	0.3235	0.3291
October	0.3345	0.3208	0.3268
November	0.3355	0.3150	0.3255
December	0.3354	0.3247	0.3298