2014 SAR to MKD Historical Review

YEARLY HIGH

13.4791 MKD

YEARLY LOW

11.7950 MKD

YEARLY AVERAGE

12.3721 MKD

2014 SAR to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the SAR to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 13.4791. Conversely, the yearly low was recorded on May 7, dropping to 11.7950.

This high-to-low spread represents a total annual volatility of 1.6841 MKD. From a start-to-finish perspective, comparing the January average rate of 12.0451 to the December average rate of 13.3110, the exchange rate registered a net change of 10.51% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2014 high of 13.4791 was up 4.98% compared to the 2013 peak of 12.8394, 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 67,395 MKD

2013 Average 62,039 MKD

Yearly Trough Low 58,975 MKD

Transaction Impact: A difference of 8,420.74 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

13.4530

11.7491

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 11.9855, compared to 12.7588 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.7733 points.

H1 Avg (Jan–Jun) 11.9855

H2 Avg (Jul–Dec) 12.7588

Volatility Range Comparison

Volatility

The most volatile month in 2014 was September, with a trading range of 0.5677 MKD (High: 13.0339 / Low: 12.4662). On the other end, June was the most stable month, with a tight range of 0.0630 MKD (High: 12.1116 / Low: 12.0487).

September Spread (Volatile) ±0.5677

June Spread (Stable) ±0.0630

Growth Streaks & Declines

Trends

Between March and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 9 straight months. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 0.1542 points.

Longest Streak 9 Mo.

Sharpest MoM Drop -0.1542

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2014: 13.3110) against the same month in 2013 (average: 11.9897), the exchange rate shifted by +1.3213 (+11.02%).

2014 Avg (December) 13.3110

2013 Avg (December) 11.9897

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	12.1415	11.9139	12.0451
February	12.1683	11.9368	12.0453
March	11.9669	11.8002	11.8911
April	11.9960	11.8389	11.8963
May	12.0768	11.7950	11.9543
June	12.1116	12.0487	12.0810
July	12.1258	12.0198	12.0986
August	12.4484	12.1252	12.2968
September	13.0339	12.4662	12.7012
October	13.0505	12.8493	12.9605
November	13.2555	13.0831	13.1844
December	13.4791	13.1362	13.3110