2023 TND to MKD Historical Review

YEARLY HIGH

18.8068 MKD

YEARLY LOW

17.9422 MKD

YEARLY AVERAGE

18.3492 MKD

2023 TND to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the TND to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 8, valuing the pair at 18.8068. Conversely, the yearly low was recorded on April 23, dropping to 17.9422.

This high-to-low spread represents a total annual volatility of 0.8646 MKD. From a start-to-finish perspective, comparing the January average rate of 18.5006 to the December average rate of 18.1958, the exchange rate registered a net change of -1.65% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 18.8068 was down 6.35% compared to the 2022 peak of 20.0819, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 94,034 MKD

2022 Average 95,025 MKD

Yearly Trough Low 89,711 MKD

Transaction Impact: A difference of 4,322.78 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

18.5460

18.1272

JanuMarcMayJulySeptNove

TND 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 18.4418, compared to 18.2566 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.1853 points.

H1 Avg (Jan–Jun) 18.4418

H2 Avg (Jul–Dec) 18.2566

Volatility Range Comparison

Volatility

The most volatile month in 2023 was April, with a trading range of 0.6655 MKD (High: 18.6077 / Low: 17.9422). On the other end, October was the most stable month, with a tight range of 0.2295 MKD (High: 18.4695 / Low: 18.2400).

April Spread (Volatile) ±0.6655

October Spread (Stable) ±0.2295

Growth Streaks & Declines

Trends

Between July and September, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.2206 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.2206

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 18.5006) against the same month in 2022 (average: 18.8633), the exchange rate shifted by -0.3627 (-1.92%).

2023 Avg (January) 18.5006

2022 Avg (January) 18.8633

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	18.8068	18.2428	18.5006
February	18.7161	18.3339	18.5111
March	18.6020	18.1371	18.4381
April	18.6077	17.9422	18.3359
May	18.6514	18.3070	18.4827
June	18.6550	18.1374	18.3827
July	18.3521	17.9456	18.1621
August	18.4494	18.0984	18.2605
September	18.5436	18.2560	18.3689
October	18.4695	18.2400	18.3574
November	18.3676	18.0237	18.1947
December	18.4193	18.0191	18.1958