2014 TOP to MKD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2014.
2014 TOP to MKD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2014
During 2014, the TOP to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 26, valuing the pair at 25.7268. Conversely, the yearly low was recorded on March 17, dropping to 23.7927.
This high-to-low spread represents a total annual volatility of 1.9341 MKD. From a start-to-finish perspective, comparing the January average rate of 24.2616 to the December average rate of 25.4464, the exchange rate registered a net change of 4.88% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2014 high of 25.7268 was down 6.69% compared to the 2013 peak of 27.5720, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 TOP based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2014.
TOP 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 24.2310, compared to 24.9271 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.6961 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2014 was September, with a trading range of 1.0171 MKD (High: 25.6527 / Low: 24.6355). On the other end, June was the most stable month, with a tight range of 0.3827 MKD (High: 24.5427 / Low: 24.1600).
Growth Streaks & Declines
TrendsBetween May and September, 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 September and October, when the average rate fell by 0.2066 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2014: 25.4464) against the same month in 2013 (average: 24.2062), the exchange rate shifted by +1.2402 (+5.12%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 24.4536 | 24.0026 | 24.2616 |
| February | 24.4531 | 23.9816 | 24.1561 |
| March | 24.4922 | 23.7927 | 24.0256 |
| April | 24.6402 | 23.9171 | 24.3617 |
| May | 24.4125 | 23.9110 | 24.1922 |
| June | 24.5427 | 24.1600 | 24.3890 |
| July | 25.1620 | 24.3993 | 24.6292 |
| August | 25.2120 | 24.3879 | 24.8246 |
| September | 25.6527 | 24.6355 | 24.9998 |
| October | 25.2109 | 24.5654 | 24.7932 |
| November | 25.3576 | 24.6705 | 24.8694 |
| December | 25.7268 | 25.0214 | 25.4464 |