2024 NGN to MKD Historical Review

YEARLY HIGH

0.0659 MKD

YEARLY LOW

0.0330 MKD

YEARLY AVERAGE

0.0399 MKD

2024 NGN to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0659. Conversely, the yearly low was recorded on September 28, dropping to 0.0330.

This high-to-low spread represents a total annual volatility of 0.0329 MKD. From a start-to-finish perspective, comparing the January average rate of 0.0619 to the December average rate of 0.0374, the exchange rate registered a net change of -39.59% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0659 was down 49.49% compared to the 2023 peak of 0.1305, 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 65,904 MKD

2023 Average 96,155 MKD

Yearly Trough Low 33,045 MKD

Transaction Impact: A difference of 32,859.57 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0647

0.0311

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 0.0444, compared to 0.0355 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0089 points.

H1 Avg (Jan–Jun) 0.0444

H2 Avg (Jul–Dec) 0.0355

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0279 MKD (High: 0.0633 / Low: 0.0354). On the other end, November was the most stable month, with a tight range of 0.0012 MKD (High: 0.0351 / Low: 0.0339).

February Spread (Volatile) ±0.0279

November Spread (Stable) ±0.0012

Growth Streaks & Declines

Trends

Between September and December, 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 January and February, when the average rate fell by 0.0184 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0184

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0619) against the same month in 2023 (average: 0.1258), the exchange rate shifted by -0.0639 (-50.79%).

2024 Avg (January) 0.0619

2023 Avg (January) 0.1258

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0659	0.0586	0.0619
February	0.0633	0.0354	0.0435
March	0.0409	0.0350	0.0372
April	0.0483	0.0404	0.0450
May	0.0464	0.0374	0.0403
June	0.0408	0.0377	0.0384
July	0.0405	0.0342	0.0375
August	0.0356	0.0344	0.0350
September	0.0351	0.0330	0.0339
October	0.0348	0.0331	0.0345
November	0.0351	0.0339	0.0346
December	0.0383	0.0346	0.0374