2024 BIF to NGN Historical Review

YEARLY HIGH

0.5861 NGN

YEARLY LOW

0.3007 NGN

YEARLY AVERAGE

0.5093 NGN

2024 BIF to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the BIF to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on November 22, valuing the pair at 0.5861. Conversely, the yearly low was recorded on January 17, dropping to 0.3007.

This high-to-low spread represents a total annual volatility of 0.2854 NGN. From a start-to-finish perspective, comparing the January average rate of 0.3196 to the December average rate of 0.5331, the exchange rate registered a net change of 66.83% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.5861 was up 86.20% compared to the 2023 peak of 0.3148, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 2,930 NGN

2023 Average 1,232 NGN

Yearly Trough Low 1,504 NGN

Transaction Impact: A difference of 1,426.77 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.5986

0.2942

JanuMarcMayJulySeptNove

BIF 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 0.4656, compared to 0.5529 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0873 points.

H1 Avg (Jan–Jun) 0.4656

H2 Avg (Jul–Dec) 0.5529

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.2468 NGN (High: 0.5617 / Low: 0.3149). On the other end, October was the most stable month, with a tight range of 0.0223 NGN (High: 0.5750 / Low: 0.5527).

February Spread (Volatile) ±0.2468

October Spread (Stable) ±0.0223

Growth Streaks & Declines

Trends

Between April and September, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.0880 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.0880

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2024: 0.5732) against the same month in 2023 (average: 0.2820), the exchange rate shifted by +0.2912 (+103.24%).

2024 Avg (November) 0.5732

2023 Avg (November) 0.2820

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.3366	0.3007	0.3196
February	0.5617	0.3149	0.4810
March	0.5633	0.4874	0.5342
April	0.4965	0.4191	0.4462
May	0.5277	0.4303	0.4941
June	0.5275	0.4887	0.5187
July	0.5770	0.4875	0.5282
August	0.5770	0.5462	0.5543
September	0.5773	0.5499	0.5646
October	0.5750	0.5527	0.5639
November	0.5861	0.5626	0.5732
December	0.5723	0.5234	0.5331