2024 KMF to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 KMF to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the KMF to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on September 27, valuing the pair at 3.7781. Conversely, the yearly low was recorded on January 17, dropping to 1.8962.
This high-to-low spread represents a total annual volatility of 1.8819 NGN. From a start-to-finish perspective, comparing the January average rate of 2.0203 to the December average rate of 3.3438, the exchange rate registered a net change of 65.51% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 3.7781 was up 87.22% compared to the 2023 peak of 2.0179, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 KMF based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
KMF 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 2.9287, compared to 3.5315 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.6028 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 1.5584 NGN (High: 3.5323 / Low: 1.9738). On the other end, August was the most stable month, with a tight range of 0.1298 NGN (High: 3.6383 / Low: 3.5085).
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 0.5872 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (September 2024: 3.6843) against the same month in 2023 (average: 1.6794), the exchange rate shifted by +2.0049 (+119.38%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 2.1309 | 1.8962 | 2.0203 |
| February | 3.5323 | 1.9738 | 3.0163 |
| March | 3.5752 | 3.0666 | 3.3734 |
| April | 3.0986 | 2.5910 | 2.7862 |
| May | 3.3441 | 2.6893 | 3.1116 |
| June | 3.3371 | 3.0575 | 3.2646 |
| July | 3.6628 | 3.0904 | 3.3477 |
| August | 3.6383 | 3.5085 | 3.5693 |
| September | 3.7781 | 3.5628 | 3.6843 |
| October | 3.7515 | 3.5942 | 3.6279 |
| November | 3.7141 | 3.5703 | 3.6163 |
| December | 3.6009 | 3.2602 | 3.3438 |