2023 MAD to NGN Historical Review

YEARLY HIGH

90.7666 NGN

YEARLY LOW

42.6520 NGN

YEARLY AVERAGE

62.7772 NGN

2023 MAD to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MAD to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 28, valuing the pair at 90.7666. Conversely, the yearly low was recorded on January 3, dropping to 42.6520.

This high-to-low spread represents a total annual volatility of 48.1146 NGN. From a start-to-finish perspective, comparing the January average rate of 44.4349 to the December average rate of 80.7051, the exchange rate registered a net change of 81.63% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 90.7666 was up 101.83% compared to the 2022 peak of 44.9715, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 453,833 NGN

2022 Average 208,850 NGN

Yearly Trough Low 213,260 NGN

Transaction Impact: A difference of 240,573.18 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

84.3322

40.8079

JanuMarcMayJulySeptNove

MAD 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 47.4365, compared to 78.1178 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 30.6813 points.

H1 Avg (Jan–Jun) 47.4365

H2 Avg (Jul–Dec) 78.1178

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 37.0623 NGN (High: 82.3371 / Low: 45.2748). On the other end, March was the most stable month, with a tight range of 1.0798 NGN (High: 45.1047 / Low: 44.0249).

June Spread (Volatile) ±37.0623

March Spread (Stable) ±1.0798

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 2.2755 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -2.2755

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 80.7051) against the same month in 2022 (average: 42.3499), the exchange rate shifted by +38.3553 (+90.57%).

2023 Avg (December) 80.7051

2022 Avg (December) 42.3499

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	45.3529	42.6520	44.4349
February	45.3828	44.0627	44.6934
March	45.1047	44.0249	44.5123
April	46.5984	45.0254	45.5396
May	46.3899	45.0110	45.6473
June	82.3371	45.2748	59.7917
July	81.7849	76.8182	79.7998
August	79.1570	75.5470	77.5243
September	77.4826	73.2000	75.6528
October	85.7987	73.5765	76.1971
November	81.5723	76.4422	78.8277
December	90.7666	77.1171	80.7051