2024 CVE to NGN Historical Review

YEARLY HIGH

16.8993 NGN

YEARLY LOW

8.4758 NGN

YEARLY AVERAGE

14.4125 NGN

2024 CVE to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the CVE to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on September 30, valuing the pair at 16.8993. Conversely, the yearly low was recorded on January 17, dropping to 8.4758.

This high-to-low spread represents a total annual volatility of 8.4235 NGN. From a start-to-finish perspective, comparing the January average rate of 9.0158 to the December average rate of 14.9327, the exchange rate registered a net change of 65.63% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2024 high of 16.8993 was up 87.63% compared to the 2023 peak of 9.0065, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 84,497 NGN

2023 Average 31,133 NGN

Yearly Trough Low 42,379 NGN

Transaction Impact: A difference of 42,117.57 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

17.1842

8.2732

JanuMarcMayJulySeptNove

CVE 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 13.0663, compared to 15.7587 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 2.6924 points.

H1 Avg (Jan–Jun) 13.0663

H2 Avg (Jul–Dec) 15.7587

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 6.9451 NGN (High: 15.7426 / Low: 8.7975). On the other end, August was the most stable month, with a tight range of 0.5751 NGN (High: 16.2352 / Low: 15.6602).

February Spread (Volatile) ±6.9451

August Spread (Stable) ±0.5751

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 2.6041 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -2.6041

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (September 2024: 16.4416) against the same month in 2023 (average: 7.4954), the exchange rate shifted by +8.9463 (+119.36%).

2024 Avg (September) 16.4416

2023 Avg (September) 7.4954

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	9.5197	8.4758	9.0158
February	15.7426	8.7975	13.4520
March	15.9448	13.6409	15.0518
April	13.8340	11.5810	12.4477
May	14.9040	11.9180	13.8836
June	14.8609	13.6406	14.5470
July	16.3458	13.7898	14.9523
August	16.2352	15.6602	15.9145
September	16.8993	15.8890	16.4416
October	16.7754	16.0299	16.1734
November	16.5111	15.8876	16.1375
December	16.1140	14.5854	14.9327