2023 ILS to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 ILS to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the ILS to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 249.4652. Conversely, the yearly low was recorded on June 4, dropping to 123.0326.
This high-to-low spread represents a total annual volatility of 126.4326 NGN. From a start-to-finish perspective, comparing the January average rate of 132.0350 to the December average rate of 221.1886, the exchange rate registered a net change of 67.52% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 249.4652 was up 86.51% compared to the 2022 peak of 133.7538, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 ILS based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
ILS 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 134.4193, compared to 208.0737 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 73.6544 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was June, with a trading range of 103.7501 NGN (High: 226.7827 / Low: 123.0326). On the other end, May was the most stable month, with a tight range of 3.6657 NGN (High: 127.1090 / Low: 123.4434).
Growth Streaks & Declines
TrendsBetween May and July, 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 July and August, when the average rate fell by 7.0116 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 221.1886) against the same month in 2022 (average: 128.8749), the exchange rate shifted by +92.3137 (+71.63%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 136.2713 | 126.2633 | 132.0350 |
| February | 135.7281 | 125.1442 | 129.9606 |
| March | 129.7627 | 124.7935 | 127.1618 |
| April | 129.2221 | 124.8918 | 126.9057 |
| May | 127.1090 | 123.4434 | 125.6958 |
| June | 226.7827 | 123.0326 | 164.7571 |
| July | 220.5086 | 204.7666 | 211.9907 |
| August | 211.3979 | 199.0594 | 204.9791 |
| September | 206.3554 | 195.6414 | 202.8179 |
| October | 217.7111 | 188.1899 | 196.7395 |
| November | 221.7625 | 196.1281 | 210.7262 |
| December | 249.4652 | 210.6571 | 221.1886 |