2023 BGN to NGN Historical Review

YEARLY HIGH

507.7723 NGN

YEARLY LOW

241.2807 NGN

YEARLY AVERAGE

350.8800 NGN

2023 BGN to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the BGN to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 507.7723. Conversely, the yearly low was recorded on January 5, dropping to 241.2807.

This high-to-low spread represents a total annual volatility of 266.4915 NGN. From a start-to-finish perspective, comparing the January average rate of 250.6700 to the December average rate of 452.3972, the exchange rate registered a net change of 80.48% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 507.7723 was up 107.06% compared to the 2022 peak of 245.2337, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 2,538,861 NGN

2022 Average 1,140,488 NGN

Yearly Trough Low 1,206,404 NGN

Transaction Impact: A difference of 1,332,457.56 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

472.5699

230.4973

JanuMarcMayJulySeptNove

BGN 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 267.0567, compared to 434.7032 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 167.6465 points.

H1 Avg (Jan–Jun) 267.0567

H2 Avg (Jul–Dec) 434.7032

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 205.4763 NGN (High: 458.3873 / Low: 252.9110). On the other end, April was the most stable month, with a tight range of 5.0241 NGN (High: 261.2178 / Low: 256.1936).

June Spread (Volatile) ±205.4763

April Spread (Stable) ±5.0241

Growth Streaks & Declines

Trends

Between September and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between July and August, when the average rate fell by 11.3075 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -11.3075

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 452.3972) against the same month in 2022 (average: 240.9818), the exchange rate shifted by +211.4154 (+87.73%).

2023 Avg (December) 452.3972

2022 Avg (December) 240.9818

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	255.9026	241.2807	250.6700
February	256.6659	247.5488	251.8215
March	256.4679	248.3407	251.7653
April	261.2178	256.1936	258.8152
May	260.6767	252.0101	256.3242
June	458.3873	252.9110	332.9442
July	453.2829	423.8173	439.3581
August	435.6103	417.6904	428.0506
September	432.1570	409.6819	422.5370
October	478.0397	409.5460	422.8811
November	459.4316	425.8060	442.9953
December	507.7723	430.0888	452.3972