2024 ZAR to MKD Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 ZAR to MKD Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the ZAR to MKD exchange rate experienced significant fluctuation. The market reached its absolute peak on December 11, valuing the pair at 3.3106. Conversely, the yearly low was recorded on January 22, dropping to 2.9440.
This high-to-low spread represents a total annual volatility of 0.3666 MKD. From a start-to-finish perspective, comparing the January average rate of 3.0079 to the December average rate of 3.2205, the exchange rate registered a net change of 7.07% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 3.3106 was down 3.75% compared to the 2023 peak of 3.4396, indicating shifts in long-term support levels.
Comparing the value generated converting 50,000 ZAR based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
ZAR 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 3.0422, compared to 3.1689 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1267 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was June, with a trading range of 0.2174 MKD (High: 3.2003 / Low: 2.9829). On the other end, March was the most stable month, with a tight range of 0.0722 MKD (High: 3.0431 / Low: 2.9709).
Growth Streaks & Declines
TrendsBetween February and July, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between July and August, when the average rate fell by 0.0188 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2024: 3.2205) against the same month in 2023 (average: 3.0323), the exchange rate shifted by +0.1881 (+6.20%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 3.0704 | 2.9440 | 3.0079 |
| February | 3.0498 | 2.9448 | 2.9991 |
| March | 3.0431 | 2.9709 | 3.0036 |
| April | 3.0833 | 2.9913 | 3.0409 |
| May | 3.1383 | 3.0164 | 3.0930 |
| June | 3.2003 | 2.9829 | 3.1087 |
| July | 3.1519 | 3.0767 | 3.1127 |
| August | 3.1486 | 3.0065 | 3.0939 |
| September | 3.2240 | 3.1057 | 3.1497 |
| October | 3.2486 | 3.1641 | 3.2135 |
| November | 3.2925 | 3.1406 | 3.2230 |
| December | 3.3106 | 3.1362 | 3.2205 |