2024 CAD to NOK Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 CAD to NOK Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the CAD to NOK exchange rate experienced significant fluctuation. The market reached its absolute peak on April 1, valuing the pair at 8.0785. Conversely, the yearly low was recorded on June 3, dropping to 7.6678.
This high-to-low spread represents a total annual volatility of 0.4107 NOK. From a start-to-finish perspective, comparing the January average rate of 7.7505 to the December average rate of 7.8750, the exchange rate registered a net change of 1.61% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 8.0785 was down 2.43% compared to the 2023 peak of 8.2800, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 CAD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
CAD to NOK Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 7.8311, compared to 7.8624 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0313 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was May, with a trading range of 0.3439 NOK (High: 8.0362 / Low: 7.6924). On the other end, November was the most stable month, with a tight range of 0.1181 NOK (High: 7.9576 / Low: 7.8395).
Growth Streaks & Declines
TrendsBetween January and April, 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 April and May, when the average rate fell by 0.1147 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (April 2024: 7.9735) against the same month in 2023 (average: 7.7729), the exchange rate shifted by +0.2006 (+2.58%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 7.8303 | 7.6751 | 7.7505 |
| February | 7.8960 | 7.7459 | 7.8182 |
| March | 8.0205 | 7.7075 | 7.8404 |
| April | 8.0785 | 7.8629 | 7.9735 |
| May | 8.0362 | 7.6924 | 7.8588 |
| June | 7.7996 | 7.6678 | 7.7453 |
| July | 7.9945 | 7.7120 | 7.8718 |
| August | 7.9672 | 7.7076 | 7.8280 |
| September | 7.9959 | 7.7180 | 7.8307 |
| October | 7.9411 | 7.7597 | 7.8671 |
| November | 7.9576 | 7.8395 | 7.9018 |
| December | 7.9436 | 7.8226 | 7.8750 |