2011 VEF to MKD Historical Review

YEARLY HIGH

11.0965 MKD

YEARLY LOW

9.6012 MKD

YEARLY AVERAGE

10.2734 MKD

2011 VEF to MKD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the VEF to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 29, valuing the pair at 11.0965. Conversely, the yearly low was recorded on May 4, dropping to 9.6012.

This high-to-low spread represents a total annual volatility of 1.4953 MKD. From a start-to-finish perspective, comparing the January average rate of 10.6888 to the December average rate of 10.8468, the exchange rate registered a net change of 1.48% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 11.0965 was down 44.58% compared to the 2010 peak of 20.0220, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 55,483 MKD

2010 Average 55,306 MKD

Yearly Trough Low 48,006 MKD

Transaction Impact: A difference of 7,476.49 MKD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

10.9430

9.7885

JanuMarcMayJulySeptNove

VEF 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 10.1885, compared to 10.3583 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1699 points.

H1 Avg (Jan–Jun) 10.1885

H2 Avg (Jul–Dec) 10.3583

Volatility Range Comparison

Volatility

The most volatile month in 2011 was October, with a trading range of 0.7620 MKD (High: 10.8403 / Low: 10.0782). On the other end, August was the most stable month, with a tight range of 0.2399 MKD (High: 10.1029 / Low: 9.8630).

October Spread (Volatile) ±0.7620

August Spread (Stable) ±0.2399

Growth Streaks & Declines

Trends

Between 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 March and April, when the average rate fell by 0.3222 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.3222

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2011: 10.8468) against the same month in 2010 (average: 10.8060), the exchange rate shifted by +0.0408 (+0.38%).

2011 Avg (December) 10.8468

2010 Avg (December) 10.8060

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	11.0738	10.4090	10.6888
February	10.6314	10.3286	10.4679
March	10.3743	10.0546	10.2069
April	10.1044	9.6035	9.8847
May	10.1916	9.6012	9.9500
June	10.1424	9.7520	9.9324
July	10.2244	9.8419	10.0044
August	10.1029	9.8630	9.9673
September	10.6393	10.0025	10.3674
October	10.8403	10.0782	10.4156
November	10.7978	10.3473	10.5484
December	11.0965	10.5766	10.8468