2023 AOA to NGN Historical Review

YEARLY HIGH

1.0838 NGN

YEARLY LOW

0.6613 NGN

YEARLY AVERAGE

0.9196 NGN

2023 AOA to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the AOA to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 1.0838. Conversely, the yearly low was recorded on June 15, dropping to 0.6613.

This high-to-low spread represents a total annual volatility of 0.4225 NGN. From a start-to-finish perspective, comparing the January average rate of 0.9023 to the December average rate of 0.9749, the exchange rate registered a net change of 8.04% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 1.0838 was up 5.05% compared to the 2022 peak of 1.0317, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 5,419 NGN

2022 Average 4,632 NGN

Yearly Trough Low 3,307 NGN

Transaction Impact: A difference of 2,112.51 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.9883

0.8281

JanuMarcMayJulySeptNove

AOA to NGN 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 0.8907, compared to 0.9485 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0577 points.

H1 Avg (Jan–Jun) 0.8907

H2 Avg (Jul–Dec) 0.9485

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.3745 NGN (High: 1.0359 / Low: 0.6613). On the other end, February was the most stable month, with a tight range of 0.0113 NGN (High: 0.9175 / Low: 0.9062).

June Spread (Volatile) ±0.3745

February Spread (Stable) ±0.0113

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 April and May, when the average rate fell by 0.0373 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0373

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 0.9749) against the same month in 2022 (average: 0.8828), the exchange rate shifted by +0.0921 (+10.43%).

2023 Avg (December) 0.9749

2022 Avg (December) 0.8828

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.9145	0.8878	0.9023
February	0.9175	0.9062	0.9116
March	0.9135	0.8993	0.9087
April	0.9154	0.9015	0.9088
May	0.9074	0.7900	0.8715
June	1.0359	0.6613	0.8414
July	0.9597	0.9207	0.9413
August	0.9413	0.9104	0.9293
September	0.9535	0.9003	0.9348
October	1.0659	0.9157	0.9456
November	0.9947	0.9385	0.9650
December	1.0838	0.9186	0.9749