2023 GNF to NGN Historical Review

YEARLY HIGH

0.1043 NGN

YEARLY LOW

0.0510 NGN

YEARLY AVERAGE

0.0736 NGN

2023 GNF to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the GNF to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 0.1043. Conversely, the yearly low was recorded on January 5, dropping to 0.0510.

This high-to-low spread represents a total annual volatility of 0.0532 NGN. From a start-to-finish perspective, comparing the January average rate of 0.0525 to the December average rate of 0.0942, the exchange rate registered a net change of 79.52% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.1043 was up 101.68% compared to the 2022 peak of 0.0517, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 GNF based on timing:

Yearly Peak High 521 NGN

2022 Average 241 NGN

Yearly Trough Low 255 NGN

Transaction Impact: A difference of 266.13 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0983

0.0483

JanuMarcMayJulySeptNove

GNF to NGN Seasonal Trends & Volatility Analysis

A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.

Seasonal Halves (H1 vs H2)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 0.0559, compared to 0.0913 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0354 points.

H1 Avg (Jan–Jun) 0.0559

H2 Avg (Jul–Dec) 0.0913

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0418 NGN (High: 0.0951 / Low: 0.0534). On the other end, May was the most stable month, with a tight range of 0.0004 NGN (High: 0.0537 / Low: 0.0533).

June Spread (Volatile) ±0.0418

May Spread (Stable) ±0.0004

Growth Streaks & Declines

Trends

Between August and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between July and August, when the average rate fell by 0.0012 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0012

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 0.0942) against the same month in 2022 (average: 0.0512), the exchange rate shifted by +0.0430 (+83.87%).

2023 Avg (December) 0.0942

2022 Avg (December) 0.0512

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0535	0.0510	0.0525
February	0.0540	0.0523	0.0533
March	0.0537	0.0522	0.0532
April	0.0541	0.0532	0.0536
May	0.0537	0.0533	0.0535
June	0.0951	0.0534	0.0695
July	0.0922	0.0879	0.0903
August	0.0902	0.0873	0.0891
September	0.0920	0.0865	0.0900
October	0.1025	0.0883	0.0910
November	0.0963	0.0903	0.0931
December	0.1043	0.0888	0.0942