2023 MVR to NGN Historical Review

YEARLY HIGH

58.3303 NGN

YEARLY LOW

29.0363 NGN

YEARLY AVERAGE

41.2472 NGN

2023 MVR to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the MVR to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 58.3303. Conversely, the yearly low was recorded on January 1, dropping to 29.0363.

This high-to-low spread represents a total annual volatility of 29.2940 NGN. From a start-to-finish perspective, comparing the January average rate of 29.5505 to the December average rate of 52.6963, the exchange rate registered a net change of 78.33% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 58.3303 was up 100.14% compared to the 2022 peak of 29.1455, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 291,652 NGN

2022 Average 137,351 NGN

Yearly Trough Low 145,181 NGN

Transaction Impact: A difference of 146,470.25 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

55.0109

27.2359

JanuMarcMayJulySeptNove

MVR 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 31.4348, compared to 51.0596 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 19.6248 points.

H1 Avg (Jan–Jun) 31.4348

H2 Avg (Jul–Dec) 51.0596

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 23.5208 NGN (High: 53.5807 / Low: 30.0599). On the other end, May was the most stable month, with a tight range of 0.1711 NGN (High: 30.1535 / Low: 29.9824).

June Spread (Volatile) ±23.5208

May Spread (Stable) ±0.1711

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 0.6104 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.6104

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 52.6963) against the same month in 2022 (average: 28.9740), the exchange rate shifted by +23.7223 (+81.87%).

2023 Avg (December) 52.6963

2022 Avg (December) 28.9740

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	30.0001	29.0363	29.5505
February	30.1486	29.8434	29.9837
March	30.0178	29.4784	29.9001
April	30.2734	29.8728	30.0344
May	30.1535	29.9824	30.0630
June	53.5807	30.0599	39.0773
July	51.6358	49.5375	50.5356
August	50.6840	48.9230	49.9252
September	51.1629	48.4342	50.2082
October	57.3404	49.2654	50.8698
November	53.2879	50.7860	52.1228
December	58.3303	49.6429	52.6963