2024 NGN to BBD Historical Review

YEARLY HIGH

0.0023 BBD

YEARLY LOW

0.0012 BBD

YEARLY AVERAGE

0.0014 BBD

2024 NGN to BBD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to BBD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0023. Conversely, the yearly low was recorded on November 22, dropping to 0.0012.

This high-to-low spread represents a total annual volatility of 0.0011 BBD. From a start-to-finish perspective, comparing the January average rate of 0.0022 to the December average rate of 0.0013, 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 0.0023 was down 47.95% compared to the 2023 peak of 0.0045, 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 2,328 BBD

2023 Average 3,376 BBD

Yearly Trough Low 1,179 BBD

Transaction Impact: A difference of 1,149.37 BBD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0023

0.0011

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 0.0016, compared to 0.0012 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0003 points.

H1 Avg (Jan–Jun) 0.0016

H2 Avg (Jul–Dec) 0.0012

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0010 BBD (High: 0.0022 / Low: 0.0012). On the other end, October was the most stable month, with a tight range of 0.0000 BBD (High: 0.0012 / Low: 0.0012).

February Spread (Volatile) ±0.0010

October Spread (Stable) ±0.0000

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 0.0007 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0007

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0022) against the same month in 2023 (average: 0.0044), the exchange rate shifted by -0.0022 (-50.10%).

2024 Avg (January) 0.0022

2023 Avg (January) 0.0044

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0023	0.0021	0.0022
February	0.0022	0.0012	0.0015
March	0.0014	0.0012	0.0013
April	0.0017	0.0014	0.0016
May	0.0016	0.0013	0.0014
June	0.0014	0.0013	0.0013
July	0.0014	0.0012	0.0013
August	0.0013	0.0012	0.0013
September	0.0013	0.0012	0.0012
October	0.0012	0.0012	0.0012
November	0.0012	0.0012	0.0012
December	0.0013	0.0012	0.0013