2023 BBD to NGN Historical Review

YEARLY HIGH

449.1433 NGN

YEARLY LOW

223.5792 NGN

YEARLY AVERAGE

317.0413 NGN

2023 BBD to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the BBD to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 449.1433. Conversely, the yearly low was recorded on January 1, dropping to 223.5792.

This high-to-low spread represents a total annual volatility of 225.5642 NGN. From a start-to-finish perspective, comparing the January average rate of 227.3027 to the December average rate of 405.0564, the exchange rate registered a net change of 78.20% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 449.1433 was up 100.14% compared to the 2022 peak of 224.4202, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 2,245,717 NGN

2022 Average 1,059,132 NGN

Yearly Trough Low 1,117,896 NGN

Transaction Impact: A difference of 1,127,820.90 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

422.8318

209.5273

JanuMarcMayJulySeptNove

BBD 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 241.3941, compared to 392.6885 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 151.2944 points.

H1 Avg (Jan–Jun) 241.3941

H2 Avg (Jul–Dec) 392.6885

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 180.9692 NGN (High: 411.5000 / Low: 230.5308). On the other end, May was the most stable month, with a tight range of 1.1124 NGN (High: 231.2846 / Low: 230.1722).

June Spread (Volatile) ±180.9692

May Spread (Stable) ±1.1124

Growth Streaks & Declines

Trends

Between 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 4.7811 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -4.7811

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 405.0564) against the same month in 2022 (average: 222.6928), the exchange rate shifted by +182.3636 (+81.89%).

2023 Avg (December) 405.0564

2022 Avg (December) 222.6928

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	230.2717	223.5792	227.3027
February	231.3904	229.1971	230.1798
March	230.3703	226.9837	229.8515
April	232.5000	229.2764	230.6289
May	231.2846	230.1722	230.6583
June	411.5000	230.5308	299.7436
July	396.3050	379.8230	388.5105
August	389.0000	375.4839	383.7294
September	394.4615	372.4592	387.0292
October	441.8076	379.3438	391.3934
November	411.6491	390.5447	400.4120
December	449.1433	382.2500	405.0564