2024 JOD to NGN Historical Review

YEARLY HIGH

2392.7514 NGN

YEARLY LOW

1210.9670 NGN

YEARLY AVERAGE

2073.5175 NGN

2024 JOD to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the JOD to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on November 22, valuing the pair at 2392.7514. Conversely, the yearly low was recorded on January 17, dropping to 1210.9670.

This high-to-low spread represents a total annual volatility of 1181.7844 NGN. From a start-to-finish perspective, comparing the January average rate of 1285.2532 to the December average rate of 2215.5318, the exchange rate registered a net change of 72.38% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2024 high of 2392.7514 was up 89.01% compared to the 2023 peak of 1265.9057, 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 11,963,757 NGN

2023 Average 4,478,704 NGN

Yearly Trough Low 6,054,835 NGN

Transaction Impact: A difference of 5,908,921.80 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

2468.5842

1177.6777

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 1881.7020, compared to 2265.3331 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 383.6311 points.

H1 Avg (Jan–Jun) 1881.7020

H2 Avg (Jul–Dec) 2265.3331

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 990.4869 NGN (High: 2266.5726 / Low: 1276.0857). On the other end, October was the most stable month, with a tight range of 72.1603 NGN (High: 2357.4714 / Low: 2285.3111).

February Spread (Volatile) ±990.4869

October Spread (Stable) ±72.1603

Growth Streaks & Declines

Trends

Between April and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 7 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 351.8001 points.

Longest Streak 7 Mo.

Sharpest MoM Drop -351.8001

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (November 2024: 2361.0087) against the same month in 2023 (average: 1128.9866), the exchange rate shifted by +1232.0221 (+109.13%).

2024 Avg (November) 2361.0087

2023 Avg (November) 1128.9866

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1350.3181	1210.9670	1285.2532
February	2266.5726	1276.0857	1939.9347
March	2272.7042	1967.8657	2155.7985
April	2004.5140	1694.4092	1803.9985
May	2135.6693	1742.3815	2000.3429
June	2142.1194	1983.9142	2104.8842
July	2344.3254	1983.9142	2145.5943
August	2343.8267	2222.7318	2252.8429
September	2356.3726	2243.2510	2305.7338
October	2357.4714	2285.3111	2311.2870
November	2392.7514	2314.5130	2361.0087
December	2371.2236	2178.4988	2215.5318