2023 NGN to AOA Historical Review

YEARLY HIGH

1.5121 AOA

YEARLY LOW

0.9226 AOA

YEARLY AVERAGE

1.0916 AOA

2023 NGN to AOA Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to AOA exchange rate experienced significant fluctuation. The market reached its absolute peak on June 15, valuing the pair at 1.5121. Conversely, the yearly low was recorded on December 30, dropping to 0.9226.

This high-to-low spread represents a total annual volatility of 0.5894 AOA. From a start-to-finish perspective, comparing the January average rate of 1.1083 to the December average rate of 1.0278, the exchange rate registered a net change of -7.27% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 1.5121 was up 12.08% compared to the 2022 peak of 1.3491, 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 1,512,086 AOA

2022 Average 1,087,376 AOA

Yearly Trough Low 922,645 AOA

Transaction Impact: A difference of 589,441.05 AOA purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

1.2298

1.0094

JanuMarcMayJulySeptNove

NGN to AOA 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 1.1278, compared to 1.0554 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0725 points.

H1 Avg (Jan–Jun) 1.1278

H2 Avg (Jul–Dec) 1.0554

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.5467 AOA (High: 1.5121 / Low: 0.9654). On the other end, February was the most stable month, with a tight range of 0.0135 AOA (High: 1.1035 / Low: 1.0900).

June Spread (Volatile) ±0.5467

February Spread (Stable) ±0.0135

Growth Streaks & Declines

Trends

Between April and June, 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 June and July, when the average rate fell by 0.1489 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.1489

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (June 2023: 1.2114) against the same month in 2022 (average: 1.0353), the exchange rate shifted by +0.1761 (+17.01%).

2023 Avg (June) 1.2114

2022 Avg (June) 1.0353

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.1264	1.0935	1.1083
February	1.1035	1.0900	1.0969
March	1.1120	1.0947	1.1005
April	1.1092	1.0925	1.1004
May	1.2658	1.1020	1.1493
June	1.5121	0.9654	1.2114
July	1.0861	1.0420	1.0626
August	1.0984	1.0624	1.0762
September	1.1107	1.0487	1.0700
October	1.0920	0.9382	1.0591
November	1.0655	1.0054	1.0366
December	1.0886	0.9226	1.0278