2024 ETB to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 ETB to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the ETB to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on July 26, valuing the pair at 28.7151. Conversely, the yearly low was recorded on December 31, dropping to 12.1102.
This high-to-low spread represents a total annual volatility of 16.6049 NGN. From a start-to-finish perspective, comparing the January average rate of 16.1594 to the December average rate of 12.4094, the exchange rate registered a net change of -23.21% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2024 high of 28.7151 was up 79.65% compared to the 2023 peak of 15.9840, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 ETB based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
ETB 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 23.4226, compared to 15.9520 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 7.4706 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 12.5082 NGN (High: 28.3498 / Low: 15.8416). On the other end, November was the most stable month, with a tight range of 0.5729 NGN (High: 13.8882 / Low: 13.3153).
Growth Streaks & Declines
TrendsBetween April and July, 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 July and August, when the average rate fell by 10.4109 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (July 2024: 26.1444) against the same month in 2023 (average: 14.1719), the exchange rate shifted by +11.9724 (+84.48%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 16.9922 | 15.2316 | 16.1594 |
| February | 28.3498 | 15.8416 | 24.2906 |
| March | 28.3523 | 24.5275 | 26.9391 |
| April | 24.9986 | 21.1257 | 22.4702 |
| May | 26.3985 | 21.5401 | 24.7313 |
| June | 26.3562 | 24.3428 | 25.9449 |
| July | 28.7151 | 22.0275 | 26.1444 |
| August | 21.0760 | 14.1019 | 15.7335 |
| September | 14.5370 | 13.4871 | 14.1562 |
| October | 14.0915 | 13.3253 | 13.6108 |
| November | 13.8882 | 13.3153 | 13.6575 |
| December | 13.3700 | 12.1102 | 12.4094 |