2023 NGN to BBD Historical Review

YEARLY HIGH

0.0045 BBD

YEARLY LOW

0.0022 BBD

YEARLY AVERAGE

0.0034 BBD

2023 NGN to BBD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to BBD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 0.0045. Conversely, the yearly low was recorded on December 30, dropping to 0.0022.

This high-to-low spread represents a total annual volatility of 0.0022 BBD. From a start-to-finish perspective, comparing the January average rate of 0.0044 to the December average rate of 0.0025, the exchange rate registered a net change of -43.78% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0045 was down 8.09% compared to the 2022 peak of 0.0049, 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 4,473 BBD

2022 Average 4,724 BBD

Yearly Trough Low 2,226 BBD

Transaction Impact: A difference of 2,246.23 BBD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0046

0.0023

JanuMarcMayJulySeptNove

NGN to BBD 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 0.0042, compared to 0.0025 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0017 points.

H1 Avg (Jan–Jun) 0.0042

H2 Avg (Jul–Dec) 0.0025

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0019 BBD (High: 0.0043 / Low: 0.0024). On the other end, May was the most stable month, with a tight range of 0.0000 BBD (High: 0.0043 / Low: 0.0043).

June Spread (Volatile) ±0.0019

May Spread (Stable) ±0.0000

Growth Streaks & Declines

Trends

No sustained consecutive month-over-month growth streak of 2+ months occurred in 2023. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.0010 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0010

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.0044) against the same month in 2022 (average: 0.0048), the exchange rate shifted by -0.0004 (-8.98%).

2023 Avg (January) 0.0044

2022 Avg (January) 0.0048

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0045	0.0043	0.0044
February	0.0044	0.0043	0.0043
March	0.0044	0.0043	0.0044
April	0.0044	0.0043	0.0043
May	0.0043	0.0043	0.0043
June	0.0043	0.0024	0.0035
July	0.0026	0.0025	0.0026
August	0.0027	0.0026	0.0026
September	0.0027	0.0025	0.0026
October	0.0026	0.0023	0.0026
November	0.0026	0.0024	0.0025
December	0.0026	0.0022	0.0025