2021 GMD to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2021.
2021 GMD to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2021
During 2021, the GMD to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on June 9, valuing the pair at 8.0706. Conversely, the yearly low was recorded on January 21, dropping to 7.3527.
This high-to-low spread represents a total annual volatility of 0.7179 NGN. From a start-to-finish perspective, comparing the January average rate of 7.5068 to the December average rate of 7.8289, the exchange rate registered a net change of 4.29% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2021 high of 8.0706 was up 5.04% compared to the 2020 peak of 7.6834, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 GMD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2021.
GMD 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 7.7049, compared to 7.9528 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.2479 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2021 was May, with a trading range of 0.6477 NGN (High: 8.0696 / Low: 7.4219). On the other end, August was the most stable month, with a tight range of 0.0198 NGN (High: 8.0568 / Low: 8.0370).
Growth Streaks & Declines
TrendsBetween March and June, 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 September and October, when the average rate fell by 0.0728 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (June 2021: 8.0426) against the same month in 2020 (average: 7.5088), the exchange rate shifted by +0.5339 (+7.11%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 7.6661 | 7.3527 | 7.5068 |
| February | 8.0161 | 7.3758 | 7.5825 |
| March | 8.0188 | 7.3955 | 7.5640 |
| April | 8.0468 | 7.4266 | 7.6385 |
| May | 8.0696 | 7.4219 | 7.8948 |
| June | 8.0706 | 8.0156 | 8.0426 |
| July | 8.0547 | 8.0222 | 8.0395 |
| August | 8.0568 | 8.0370 | 8.0464 |
| September | 8.0473 | 7.8843 | 8.0030 |
| October | 8.0108 | 7.8901 | 7.9302 |
| November | 7.9290 | 7.8223 | 7.8686 |
| December | 7.8635 | 7.7579 | 7.8289 |