2011 SAR to MKD Historical Review

YEARLY HIGH

12.7021 MKD

YEARLY LOW

10.9952 MKD

YEARLY AVERAGE

11.7691 MKD

2011 SAR to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the SAR to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 29, valuing the pair at 12.7021. Conversely, the yearly low was recorded on May 4, dropping to 10.9952.

This high-to-low spread represents a total annual volatility of 1.7069 MKD. From a start-to-finish perspective, comparing the January average rate of 12.2469 to the December average rate of 12.4227, the exchange rate registered a net change of 1.43% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 12.7021 was down 7.31% compared to the 2010 peak of 13.7032, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 SAR based on timing:

Yearly Peak High 63,511 MKD

2010 Average 61,805 MKD

Yearly Trough Low 54,976 MKD

Transaction Impact: A difference of 8,534.66 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

12.5325

11.2145

JanuMarcMayJulySeptNove

SAR 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 11.6725, compared to 11.8658 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1933 points.

H1 Avg (Jan–Jun) 11.6725

H2 Avg (Jul–Dec) 11.8658

Volatility Range Comparison

Volatility

The most volatile month in 2011 was October, with a trading range of 0.8583 MKD (High: 12.4141 / Low: 11.5558). On the other end, August was the most stable month, with a tight range of 0.2750 MKD (High: 11.5699 / Low: 11.2949).

October Spread (Volatile) ±0.8583

August Spread (Stable) ±0.2750

Growth Streaks & Declines

Trends

Between August and December, 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 March and April, when the average rate fell by 0.3683 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.3683

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2011: 12.4227) against the same month in 2010 (average: 12.3800), the exchange rate shifted by +0.0427 (+0.35%).

2011 Avg (December) 12.4227

2010 Avg (December) 12.3800

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	12.6826	11.9304	12.2469
February	12.1751	11.8282	11.9926
March	11.8807	11.5145	11.6926
April	11.5718	11.0121	11.3243
May	11.6714	10.9952	11.3999
June	11.6150	11.1681	11.3784
July	11.7090	11.2851	11.4601
August	11.5699	11.2949	11.4177
September	12.1833	11.4546	11.8767
October	12.4141	11.5558	11.9329
November	12.3658	11.8493	12.0845
December	12.7021	12.1259	12.4227