2018 TOP to MKD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2018.
2018 TOP to MKD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2018
During 2018, the TOP to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 14, valuing the pair at 24.2109. Conversely, the yearly low was recorded on January 27, dropping to 22.0957.
This high-to-low spread represents a total annual volatility of 2.1152 MKD. From a start-to-finish perspective, comparing the January average rate of 22.4648 to the December average rate of 23.7603, the exchange rate registered a net change of 5.77% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2018 high of 24.2109 was down 7.10% compared to the 2017 peak of 26.0625, 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 2018.
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 22.6728, compared to 23.2249 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.5521 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2018 was May, with a trading range of 0.7912 MKD (High: 23.4448 / Low: 22.6537). On the other end, July was the most stable month, with a tight range of 0.3398 MKD (High: 22.9278 / Low: 22.5880).
Growth Streaks & Declines
TrendsBetween March and June, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.2606 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2018: 23.7603) against the same month in 2017 (average: 22.7222), the exchange rate shifted by +1.0381 (+4.57%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 22.8777 | 22.0957 | 22.4648 |
| February | 22.7734 | 22.1196 | 22.5300 |
| March | 22.6240 | 22.2560 | 22.4560 |
| April | 22.9612 | 22.3167 | 22.5647 |
| May | 23.4448 | 22.6537 | 23.0006 |
| June | 23.2219 | 22.8045 | 23.0210 |
| July | 22.9278 | 22.5880 | 22.7604 |
| August | 23.4987 | 22.7609 | 23.1039 |
| September | 23.0661 | 22.6319 | 22.8775 |
| October | 23.6144 | 23.0191 | 23.2550 |
| November | 23.8182 | 23.3718 | 23.5924 |
| December | 24.2109 | 23.5011 | 23.7603 |