2023 JOD to NGN Historical Review

YEARLY HIGH

1265.9057 NGN

YEARLY LOW

630.3108 NGN

YEARLY AVERAGE

894.1091 NGN

2023 JOD to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the JOD to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 1265.9057. Conversely, the yearly low was recorded on January 2, dropping to 630.3108.

This high-to-low spread represents a total annual volatility of 635.5949 NGN. From a start-to-finish perspective, comparing the January average rate of 640.8107 to the December average rate of 1141.9131, the exchange rate registered a net change of 78.20% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 1265.9057 was up 100.05% compared to the 2022 peak of 632.7934, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 6,329,529 NGN

2022 Average 2,987,397 NGN

Yearly Trough Low 3,151,554 NGN

Transaction Impact: A difference of 3,177,974.51 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

1192.0233

590.7005

JanuMarcMayJulySeptNove

JOD 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 680.5183, compared to 1107.7000 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 427.1817 points.

H1 Avg (Jan–Jun) 680.5183

H2 Avg (Jul–Dec) 1107.7000

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 509.9485 NGN (High: 1159.9718 / Low: 650.0233). On the other end, May was the most stable month, with a tight range of 3.0997 NGN (High: 651.9651 / Low: 648.8654).

June Spread (Volatile) ±509.9485

May Spread (Stable) ±3.0997

Growth Streaks & Declines

Trends

Between March and July, 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 11.6556 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -11.6556

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 1141.9131) against the same month in 2022 (average: 627.9056), the exchange rate shifted by +514.0075 (+81.86%).

2023 Avg (December) 1141.9131

2022 Avg (December) 627.9056

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	649.2930	630.3108	640.8107
February	652.3552	645.6257	648.8770
March	649.4791	639.4808	647.9255
April	655.4835	646.4863	650.2267
May	651.9651	648.8654	650.2350
June	1159.9718	650.0233	845.0347
July	1117.9266	1070.6778	1095.6269
August	1098.7149	1060.5393	1083.9713
September	1113.9833	1051.8475	1092.3041
October	1245.7567	1069.1765	1103.3981
November	1160.7192	1101.2116	1128.9866
December	1265.9057	1077.3675	1141.9131