2024 NGN to AED Historical Review

YEARLY HIGH

0.0043 AED

YEARLY LOW

0.0022 AED

YEARLY AVERAGE

0.0026 AED

2024 NGN to AED Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to AED exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0043. Conversely, the yearly low was recorded on November 22, dropping to 0.0022.

This high-to-low spread represents a total annual volatility of 0.0021 AED. From a start-to-finish perspective, comparing the January average rate of 0.0040 to the December average rate of 0.0023, the exchange rate registered a net change of -41.99% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0043 was down 47.94% compared to the 2023 peak of 0.0082, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 1,000,000 NGN based on timing:

Yearly Peak High 4,276 AED

2023 Average 6,200 AED

Yearly Trough Low 2,165 AED

Transaction Impact: A difference of 2,110.81 AED purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0042

0.0020

JanuMarcMayJulySeptNove

NGN to AED 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 0.0029, compared to 0.0023 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0006 points.

H1 Avg (Jan–Jun) 0.0029

H2 Avg (Jul–Dec) 0.0023

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0018 AED (High: 0.0041 / Low: 0.0023). On the other end, October was the most stable month, with a tight range of 0.0001 AED (High: 0.0023 / Low: 0.0022).

February Spread (Volatile) ±0.0018

October Spread (Stable) ±0.0001

Growth Streaks & Declines

Trends

No sustained consecutive month-over-month growth streak of 2+ months occurred in 2024. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 0.0012 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0012

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0040) against the same month in 2023 (average: 0.0081), the exchange rate shifted by -0.0040 (-50.10%).

2024 Avg (January) 0.0040

2023 Avg (January) 0.0081

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0043	0.0038	0.0040
February	0.0041	0.0023	0.0028
March	0.0026	0.0023	0.0024
April	0.0031	0.0026	0.0029
May	0.0030	0.0024	0.0026
June	0.0026	0.0024	0.0025
July	0.0026	0.0022	0.0024
August	0.0023	0.0022	0.0023
September	0.0023	0.0022	0.0022
October	0.0023	0.0022	0.0022
November	0.0022	0.0022	0.0022
December	0.0024	0.0022	0.0023