2023 BOB to NGN Historical Review

YEARLY HIGH

129.7516 NGN

YEARLY LOW

64.7089 NGN

YEARLY AVERAGE

91.7936 NGN

2023 BOB to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the BOB to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 29, valuing the pair at 129.7516. Conversely, the yearly low was recorded on January 1, dropping to 64.7089.

This high-to-low spread represents a total annual volatility of 65.0426 NGN. From a start-to-finish perspective, comparing the January average rate of 65.7888 to the December average rate of 117.1038, the exchange rate registered a net change of 78.00% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 129.7516 was up 99.77% compared to the 2022 peak of 64.9502, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 648,758 NGN

2022 Average 307,307 NGN

Yearly Trough Low 323,545 NGN

Transaction Impact: A difference of 325,213.24 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

122.2353

60.6573

JanuMarcMayJulySeptNove

BOB 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 69.8922, compared to 113.6951 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 43.8029 points.

H1 Avg (Jan–Jun) 69.8922

H2 Avg (Jul–Dec) 113.6951

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 52.5738 NGN (High: 119.0983 / Low: 66.5245). On the other end, February was the most stable month, with a tight range of 0.3592 NGN (High: 66.7145 / Low: 66.3553).

June Spread (Volatile) ±52.5738

February Spread (Stable) ±0.3592

Growth Streaks & Declines

Trends

Between January and July, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 6 straight months. Conversely, the sharpest month-over-month decline occurred between July and August, when the average rate fell by 1.4881 points.

Longest Streak 6 Mo.

Sharpest MoM Drop -1.4881

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 117.1038) against the same month in 2022 (average: 64.4279), the exchange rate shifted by +52.6759 (+81.76%).

2023 Avg (December) 117.1038

2022 Avg (December) 64.4279

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	66.6664	64.7089	65.7888
February	66.7145	66.3553	66.6144
March	66.9470	66.4078	66.6196
April	67.2805	66.3679	66.7649
May	67.1380	66.5503	66.7883
June	119.0983	66.5245	86.7770
July	114.7826	109.5800	112.5556
August	112.6586	108.7093	111.0675
September	114.3106	107.7788	112.0469
October	127.8673	110.1936	113.3653
November	119.7231	113.1136	116.0315
December	129.7516	110.4386	117.1038