2024 FKP to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 FKP to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the FKP to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on September 30, valuing the pair at 2233.3687. Conversely, the yearly low was recorded on January 17, dropping to 1089.0237.
This high-to-low spread represents a total annual volatility of 1144.3450 NGN. From a start-to-finish perspective, comparing the January average rate of 1158.7594 to the December average rate of 1985.4547, the exchange rate registered a net change of 71.34% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 2233.3687 was up 95.15% compared to the 2023 peak of 1144.4178, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 FKP based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
FKP 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 1687.7774, compared to 2073.5316 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 385.7542 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 903.3764 NGN (High: 2037.6748 / Low: 1134.2984). On the other end, November was the most stable month, with a tight range of 78.1160 NGN (High: 2179.7152 / Low: 2101.5992).
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 March and April, when the average rate fell by 342.8561 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (September 2024: 2160.3535) against the same month in 2023 (average: 958.8200), the exchange rate shifted by +1201.5336 (+125.31%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 1220.4420 | 1089.0237 | 1158.7594 |
| February | 2037.6748 | 1134.2984 | 1737.6528 |
| March | 2059.7237 | 1761.2373 | 1942.5536 |
| April | 1782.7928 | 1493.1230 | 1599.6975 |
| May | 1919.7998 | 1548.6612 | 1792.2625 |
| June | 1925.8306 | 1778.4209 | 1895.7383 |
| July | 2136.2989 | 1797.9770 | 1956.8530 |
| August | 2114.1571 | 2005.6462 | 2066.9251 |
| September | 2233.3687 | 2084.7407 | 2160.3535 |
| October | 2215.8796 | 2116.5480 | 2137.1450 |
| November | 2179.7152 | 2101.5992 | 2134.4582 |
| December | 2135.6650 | 1936.3374 | 1985.4547 |