2023 BND to NGN Historical Review

YEARLY HIGH

679.5544 NGN

YEARLY LOW

333.2598 NGN

YEARLY AVERAGE

471.7560 NGN

2023 BND to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the BND to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 679.5544. Conversely, the yearly low was recorded on January 3, dropping to 333.2598.

This high-to-low spread represents a total annual volatility of 346.2947 NGN. From a start-to-finish perspective, comparing the January average rate of 342.6369 to the December average rate of 608.1512, the exchange rate registered a net change of 77.49% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 679.5544 was up 104.05% compared to the 2022 peak of 333.0303, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 3,397,772 NGN

2022 Average 1,536,629 NGN

Yearly Trough Low 1,666,299 NGN

Transaction Impact: A difference of 1,731,473.26 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

634.7027

316.0854

JanuMarcMayJulySeptNove

BND 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 361.3720, compared to 582.1400 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 220.7680 points.

H1 Avg (Jan–Jun) 361.3720

H2 Avg (Jul–Dec) 582.1400

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 269.4727 NGN (High: 610.7548 / Low: 341.2821). On the other end, April was the most stable month, with a tight range of 5.6985 NGN (High: 350.1319 / Low: 344.4334).

June Spread (Volatile) ±269.4727

April Spread (Stable) ±5.6985

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 14.0509 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -14.0509

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 608.1512) against the same month in 2022 (average: 329.4516), the exchange rate shifted by +278.6997 (+84.60%).

2023 Avg (December) 608.1512

2022 Avg (December) 329.4516

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	350.9622	333.2598	342.6369
February	352.3098	340.8640	345.6699
March	347.2539	339.9316	343.1310
April	350.1319	344.4334	346.7700
May	348.4465	340.3368	344.5689
June	610.7548	341.2821	445.4553
July	596.7488	559.8528	582.3297
August	579.8138	557.0788	568.2788
September	578.9525	546.6673	568.1848
October	646.0942	555.0636	571.9137
November	615.4585	574.2156	593.9817
December	679.5544	576.5599	608.1512