2024 NGN to BOB Historical Review

YEARLY HIGH

0.0080 BOB

YEARLY LOW

0.0041 BOB

YEARLY AVERAGE

0.0049 BOB

2024 NGN to BOB Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to BOB exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0080. Conversely, the yearly low was recorded on November 26, dropping to 0.0041.

This high-to-low spread represents a total annual volatility of 0.0040 BOB. From a start-to-finish perspective, comparing the January average rate of 0.0076 to the December average rate of 0.0044, the exchange rate registered a net change of -41.98% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0080 was down 47.95% compared to the 2023 peak of 0.0155, 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 8,043 BOB

2023 Average 11,660 BOB

Yearly Trough Low 4,072 BOB

Transaction Impact: A difference of 3,971.59 BOB purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0079

0.0038

JanuMarcMayJulySeptNove

NGN to BOB 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 0.0054, compared to 0.0043 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0011 points.

H1 Avg (Jan–Jun) 0.0054

H2 Avg (Jul–Dec) 0.0043

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0034 BOB (High: 0.0077 / Low: 0.0043). On the other end, October was the most stable month, with a tight range of 0.0001 BOB (High: 0.0043 / Low: 0.0041).

February Spread (Volatile) ±0.0034

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 0.0023 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0023

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0076) against the same month in 2023 (average: 0.0152), the exchange rate shifted by -0.0076 (-50.11%).

2024 Avg (January) 0.0076

2023 Avg (January) 0.0152

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0080	0.0072	0.0076
February	0.0077	0.0043	0.0053
March	0.0050	0.0043	0.0045
April	0.0058	0.0049	0.0054
May	0.0056	0.0046	0.0049
June	0.0049	0.0046	0.0046
July	0.0049	0.0042	0.0046
August	0.0044	0.0042	0.0043
September	0.0043	0.0041	0.0042
October	0.0043	0.0041	0.0042
November	0.0042	0.0041	0.0041
December	0.0045	0.0041	0.0044