2023 AED to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 AED to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the AED to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 244.5812. Conversely, the yearly low was recorded on January 1, dropping to 121.7541.
This high-to-low spread represents a total annual volatility of 122.8271 NGN. From a start-to-finish perspective, comparing the January average rate of 123.7706 to the December average rate of 220.5867, the exchange rate registered a net change of 78.22% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 244.5812 was up 100.14% compared to the 2022 peak of 122.2066, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 AED based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
AED to NGN 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 131.4525, compared to 213.8299 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 82.3774 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was June, with a trading range of 98.5371 NGN (High: 224.0675 / Low: 125.5304). On the other end, May was the most stable month, with a tight range of 0.6070 NGN (High: 125.9652 / Low: 125.3582).
Growth Streaks & Declines
TrendsBetween March and July, 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 July and August, when the average rate fell by 2.6053 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 220.5867) against the same month in 2022 (average: 121.2655), the exchange rate shifted by +99.3212 (+81.90%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 125.3859 | 121.7541 | 123.7706 |
| February | 125.9950 | 124.8010 | 125.3366 |
| March | 125.4602 | 123.5992 | 125.1672 |
| April | 126.6135 | 124.8680 | 125.6016 |
| May | 125.9652 | 125.3582 | 125.6240 |
| June | 224.0675 | 125.5304 | 163.2154 |
| July | 215.7922 | 206.8175 | 211.5492 |
| August | 211.8142 | 204.4535 | 208.9439 |
| September | 214.7857 | 202.8054 | 210.7422 |
| October | 240.5701 | 206.5563 | 213.1178 |
| November | 224.1530 | 212.6559 | 218.0398 |
| December | 244.5812 | 208.1581 | 220.5867 |