2023 NGN to MKD Historical Review

YEARLY HIGH

0.1305 MKD

YEARLY LOW

0.0617 MKD

YEARLY AVERAGE

0.0963 MKD

2023 NGN to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 3, valuing the pair at 0.1305. Conversely, the yearly low was recorded on December 28, dropping to 0.0617.

This high-to-low spread represents a total annual volatility of 0.0687 MKD. From a start-to-finish perspective, comparing the January average rate of 0.1258 to the December average rate of 0.0698, the exchange rate registered a net change of -44.56% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.1305 was down 11.66% compared to the 2022 peak of 0.1477, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 1,000,000 NGN based on timing:

Yearly Peak High 130,471 MKD

2022 Average 138,290 MKD

Yearly Trough Low 61,738 MKD

Transaction Impact: A difference of 68,733.23 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.1314

0.0641

JanuMarcMayJulySeptNove

NGN to MKD 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 0.1202, compared to 0.0725 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0476 points.

H1 Avg (Jan–Jun) 0.1202

H2 Avg (Jul–Dec) 0.0725

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0565 MKD (High: 0.1251 / Low: 0.0686). On the other end, August was the most stable month, with a tight range of 0.0031 MKD (High: 0.0754 / Low: 0.0722).

June Spread (Volatile) ±0.0565

August Spread (Stable) ±0.0031

Growth Streaks & Declines

Trends

Between July and October, 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 June and July, when the average rate fell by 0.0287 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0287

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.1258) against the same month in 2022 (average: 0.1316), the exchange rate shifted by -0.0058 (-4.38%).

2023 Avg (January) 0.1258

2022 Avg (January) 0.1316

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.1305	0.1229	0.1258
February	0.1267	0.1224	0.1250
March	0.1269	0.1227	0.1252
April	0.1234	0.1202	0.1217
May	0.1250	0.1209	0.1229
June	0.1251	0.0686	0.1004
July	0.0746	0.0693	0.0717
August	0.0754	0.0722	0.0736
September	0.0772	0.0729	0.0745
October	0.0768	0.0657	0.0745
November	0.0744	0.0685	0.0711
December	0.0731	0.0617	0.0698