2024 AFN to MGA Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 AFN to MGA Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the AFN to MGA exchange rate experienced significant fluctuation. The market reached its absolute peak on October 17, valuing the pair at 70.4414. Conversely, the yearly low was recorded on March 29, dropping to 60.2489.
This high-to-low spread represents a total annual volatility of 10.1925 MGA. From a start-to-finish perspective, comparing the January average rate of 63.8219 to the December average rate of 67.7079, the exchange rate registered a net change of 6.09% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 70.4414 was up 6.37% compared to the 2023 peak of 66.2239, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 AFN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
AFN to MGA 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 62.3764, compared to 66.4004 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 4.0240 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was January, with a trading range of 4.9997 MGA (High: 65.7714 / Low: 60.7717). On the other end, August was the most stable month, with a tight range of 1.4703 MGA (High: 64.9813 / Low: 63.5110).
Growth Streaks & Declines
TrendsBetween April and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 7 straight months. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 1.7701 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (October 2024: 68.4519) against the same month in 2023 (average: 59.9589), the exchange rate shifted by +8.4930 (+14.16%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 65.7714 | 60.7717 | 63.8219 |
| February | 62.9667 | 60.4816 | 62.0518 |
| March | 63.1567 | 60.2489 | 61.8903 |
| April | 61.9849 | 60.4468 | 61.2374 |
| May | 62.9787 | 61.2826 | 61.8455 |
| June | 64.0671 | 61.8740 | 63.4118 |
| July | 64.6503 | 62.7166 | 63.6684 |
| August | 64.9813 | 63.5110 | 64.4873 |
| September | 66.9265 | 64.1058 | 65.3647 |
| October | 70.4414 | 66.0295 | 68.4519 |
| November | 69.6269 | 67.7613 | 68.7222 |
| December | 69.5131 | 66.3314 | 67.7079 |