2023 CDF to NGN Historical Review

YEARLY HIGH

0.3474 NGN

YEARLY LOW

0.1954 NGN

YEARLY AVERAGE

0.2678 NGN

2023 CDF to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the CDF to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on October 23, valuing the pair at 0.3474. Conversely, the yearly low was recorded on June 13, dropping to 0.1954.

This high-to-low spread represents a total annual volatility of 0.1520 NGN. From a start-to-finish perspective, comparing the January average rate of 0.2219 to the December average rate of 0.2976, the exchange rate registered a net change of 34.10% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.3474 was up 57.38% compared to the 2022 peak of 0.2207, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 1,737 NGN

2022 Average 1,049 NGN

Yearly Trough Low 977 NGN

Transaction Impact: A difference of 759.92 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.3255

0.2012

JanuMarcMayJulySeptNove

CDF 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 0.2257, compared to 0.3100 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0843 points.

H1 Avg (Jan–Jun) 0.2257

H2 Avg (Jul–Dec) 0.3100

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.1504 NGN (High: 0.3458 / Low: 0.1954). On the other end, February was the most stable month, with a tight range of 0.0041 NGN (High: 0.2252 / Low: 0.2212).

June Spread (Volatile) ±0.1504

February Spread (Stable) ±0.0041

Growth Streaks & Declines

Trends

Between May and July, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between November and December, when the average rate fell by 0.0175 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0175

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (October 2023: 0.3108) against the same month in 2022 (average: 0.2129), the exchange rate shifted by +0.0979 (+46.01%).

2023 Avg (October) 0.3108

2022 Avg (October) 0.2129

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.2254	0.2176	0.2219
February	0.2252	0.2212	0.2232
March	0.2251	0.2207	0.2223
April	0.2270	0.2111	0.2217
May	0.2262	0.1975	0.2115
June	0.3458	0.1954	0.2535
July	0.3205	0.3068	0.3147
August	0.3189	0.3028	0.3099
September	0.3207	0.2993	0.3117
October	0.3474	0.2986	0.3108
November	0.3333	0.2901	0.3151
December	0.3312	0.2800	0.2976