2024 JMD to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 JMD to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the JMD to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on November 26, valuing the pair at 10.7483. Conversely, the yearly low was recorded on January 17, dropping to 5.5411.
This high-to-low spread represents a total annual volatility of 5.2072 NGN. From a start-to-finish perspective, comparing the January average rate of 5.8799 to the December average rate of 10.0452, the exchange rate registered a net change of 70.84% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 10.7483 was up 85.21% compared to the 2023 peak of 5.8032, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 JMD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
JMD 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 8.5775, compared to 10.2120 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 1.6346 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 4.5240 NGN (High: 10.2724 / Low: 5.7484). On the other end, October was the most stable month, with a tight range of 0.3558 NGN (High: 10.6045 / Low: 10.2487).
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 1.6400 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2024: 10.5643) against the same month in 2023 (average: 5.1555), the exchange rate shifted by +5.4088 (+104.91%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 6.1688 | 5.5411 | 5.8799 |
| February | 10.2724 | 5.7484 | 8.7961 |
| March | 10.4192 | 9.0691 | 9.8855 |
| April | 9.2365 | 7.7360 | 8.2455 |
| May | 9.6966 | 7.8694 | 9.0738 |
| June | 9.7379 | 9.0082 | 9.5840 |
| July | 10.6190 | 8.9617 | 9.7252 |
| August | 10.6224 | 10.0530 | 10.1903 |
| September | 10.6218 | 10.1267 | 10.4035 |
| October | 10.6045 | 10.2487 | 10.3437 |
| November | 10.7483 | 10.3662 | 10.5643 |
| December | 10.6921 | 9.8833 | 10.0452 |