2024 EGP to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 EGP to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the EGP to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on February 23, valuing the pair at 52.0579. Conversely, the yearly low was recorded on April 16, dropping to 24.7665.
This high-to-low spread represents a total annual volatility of 27.2914 NGN. From a start-to-finish perspective, comparing the January average rate of 29.5180 to the December average rate of 31.0828, the exchange rate registered a net change of 5.30% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 52.0579 was up 79.22% compared to the 2023 peak of 29.0473, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 EGP based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
EGP to NGN 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 32.8141, compared to 32.7755 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0386 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 23.0497 NGN (High: 52.0579 / Low: 29.0082). On the other end, November was the most stable month, with a tight range of 0.8224 NGN (High: 34.3235 / Low: 33.5011).
Growth Streaks & Declines
TrendsBetween 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 February and March, when the average rate fell by 9.6753 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (February 2024: 44.5083) against the same month in 2023 (average: 15.1072), the exchange rate shifted by +29.4011 (+194.62%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 31.0204 | 27.8054 | 29.5180 |
| February | 52.0579 | 29.0082 | 44.5083 |
| March | 51.2070 | 29.1714 | 34.8330 |
| April | 29.8300 | 24.7665 | 26.7485 |
| May | 32.3058 | 25.7492 | 30.0045 |
| June | 31.7663 | 29.3057 | 31.2726 |
| July | 34.3535 | 29.1389 | 31.5597 |
| August | 34.1150 | 32.1105 | 32.6506 |
| September | 34.5780 | 32.7595 | 33.7285 |
| October | 34.5847 | 33.3377 | 33.7199 |
| November | 34.3235 | 33.5011 | 33.9116 |
| December | 33.7982 | 30.3380 | 31.0828 |