2024 SGD to MKD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 SGD to MKD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the SGD to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on November 24, valuing the pair at 43.9621. Conversely, the yearly low was recorded on May 31, dropping to 41.8866.
This high-to-low spread represents a total annual volatility of 2.0755 MKD. From a start-to-finish perspective, comparing the January average rate of 42.2173 to the December average rate of 43.4718, the exchange rate registered a net change of 2.97% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 43.9621 was down 0.22% compared to the 2023 peak of 44.0572, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 SGD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
SGD to MKD Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 42.2666, compared to 42.8796 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.6130 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was November, with a trading range of 1.3301 MKD (High: 43.9621 / Low: 42.6320). On the other end, December was the most stable month, with a tight range of 0.3417 MKD (High: 43.6342 / Low: 43.2926).
Growth Streaks & Declines
TrendsBetween July and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between February and March, when the average rate fell by 0.1828 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2024: 43.3131) against the same month in 2023 (average: 42.2448), the exchange rate shifted by +1.0683 (+2.53%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 42.4627 | 42.0901 | 42.2173 |
| February | 42.6330 | 42.0549 | 42.4068 |
| March | 42.4012 | 41.9538 | 42.2241 |
| April | 42.5400 | 42.0794 | 42.3074 |
| May | 42.4402 | 41.8866 | 42.1529 |
| June | 42.5432 | 41.8897 | 42.2912 |
| July | 42.5871 | 41.9463 | 42.1617 |
| August | 42.8723 | 42.2036 | 42.4818 |
| September | 43.0775 | 42.5406 | 42.7658 |
| October | 43.2926 | 42.6855 | 43.0835 |
| November | 43.9621 | 42.6320 | 43.3131 |
| December | 43.6342 | 43.2926 | 43.4718 |