2016 TOP to MKD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2016.
2016 TOP to MKD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2016
During 2016, the TOP to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 19, valuing the pair at 26.1812. Conversely, the yearly low was recorded on February 7, dropping to 23.6162.
This high-to-low spread represents a total annual volatility of 2.5650 MKD. From a start-to-finish perspective, comparing the January average rate of 25.1246 to the December average rate of 25.6344, the exchange rate registered a net change of 2.03% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2016 high of 26.1812 was down 10.03% compared to the 2015 peak of 29.0988, 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 2016.
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 24.5184, compared to 24.9102 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.3918 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2016 was November, with a trading range of 1.3846 MKD (High: 25.8868 / Low: 24.5022). On the other end, September was the most stable month, with a tight range of 0.2990 MKD (High: 24.5417 / Low: 24.2427).
Growth Streaks & Declines
TrendsBetween 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 January and February, when the average rate fell by 0.7572 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2016: 25.6344) against the same month in 2015 (average: 25.1694), the exchange rate shifted by +0.4650 (+1.85%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 25.5854 | 24.5675 | 25.1246 |
| February | 24.8597 | 23.6162 | 24.3673 |
| March | 24.9903 | 24.2589 | 24.5529 |
| April | 24.8092 | 24.0929 | 24.4222 |
| May | 24.5616 | 23.9340 | 24.2432 |
| June | 25.0580 | 23.8423 | 24.4003 |
| July | 24.7290 | 24.1014 | 24.5369 |
| August | 24.6589 | 24.0228 | 24.3240 |
| September | 24.5417 | 24.2427 | 24.4243 |
| October | 25.5849 | 24.3209 | 25.0835 |
| November | 25.8868 | 24.5022 | 25.4583 |
| December | 26.1812 | 25.2693 | 25.6344 |