2024 MXN to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 MXN to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the MXN to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on March 13, valuing the pair at 96.5097. Conversely, the yearly low was recorded on January 17, dropping to 49.9236.
This high-to-low spread represents a total annual volatility of 46.5861 NGN. From a start-to-finish perspective, comparing the January average rate of 53.4628 to the December average rate of 77.5861, the exchange rate registered a net change of 45.12% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 96.5097 was up 82.33% compared to the 2023 peak of 52.9301, indicating shifts in long-term support levels.
Comparing the value generated converting 50,000 MXN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
MXN 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 77.9449, compared to 82.3290 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 4.3842 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 41.3856 NGN (High: 94.1443 / Low: 52.7587). On the other end, November was the most stable month, with a tight range of 3.6738 NGN (High: 84.5911 / Low: 80.9173).
Growth Streaks & Declines
TrendsBetween January and March, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 15.0521 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (March 2024: 91.1233) against the same month in 2023 (average: 24.9832), the exchange rate shifted by +66.1401 (+264.74%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 56.7649 | 49.9236 | 53.4628 |
| February | 94.1443 | 52.7587 | 80.4965 |
| March | 96.5097 | 83.8031 | 91.1233 |
| April | 85.4776 | 70.5081 | 76.0712 |
| May | 90.8191 | 72.7117 | 84.4432 |
| June | 87.5208 | 76.6693 | 82.0723 |
| July | 90.4312 | 78.1589 | 83.9400 |
| August | 87.7344 | 80.2872 | 83.3884 |
| September | 86.2116 | 80.0944 | 83.3985 |
| October | 86.0266 | 81.6534 | 83.2703 |
| November | 84.5911 | 80.9173 | 82.3910 |
| December | 82.4895 | 74.2335 | 77.5861 |