2024 GHS to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 GHS to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the GHS to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on February 23, valuing the pair at 129.8586. Conversely, the yearly low was recorded on January 17, dropping to 71.6595.
This high-to-low spread represents a total annual volatility of 58.1991 NGN. From a start-to-finish perspective, comparing the January average rate of 75.7025 to the December average rate of 106.2765, the exchange rate registered a net change of 40.39% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 129.8586 was up 73.29% compared to the 2023 peak of 74.9354, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 GHS based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
GHS 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 99.7201, compared to 102.9966 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 3.2765 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 57.3938 NGN (High: 129.8586 / Low: 72.4648). On the other end, September was the most stable month, with a tight range of 4.2960 NGN (High: 105.8656 / Low: 101.5696).
Growth Streaks & Declines
TrendsBetween January and March, 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 March and April, when the average rate fell by 23.0942 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (February 2024: 110.3290) against the same month in 2023 (average: 36.8880), the exchange rate shifted by +73.4410 (+199.09%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 80.0712 | 71.6595 | 75.7025 |
| February | 129.8586 | 72.4648 | 110.3290 |
| March | 125.0001 | 105.5399 | 118.2278 |
| April | 107.2726 | 89.3333 | 95.1335 |
| May | 106.1541 | 89.4366 | 99.7454 |
| June | 100.8880 | 92.1458 | 99.1827 |
| July | 107.1118 | 90.9967 | 98.5499 |
| August | 106.8489 | 100.6550 | 102.3397 |
| September | 105.8656 | 101.5696 | 104.0596 |
| October | 105.6373 | 100.9696 | 102.3058 |
| November | 109.6339 | 100.4718 | 104.4482 |
| December | 109.6875 | 105.2861 | 106.2765 |