2023 NGN to CAD Historical Review

YEARLY HIGH

0.0030 CAD

YEARLY LOW

0.0015 CAD

YEARLY AVERAGE

0.0023 CAD

2023 NGN to CAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to CAD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 3, valuing the pair at 0.0030. Conversely, the yearly low was recorded on December 28, dropping to 0.0015.

This high-to-low spread represents a total annual volatility of 0.0016 CAD. From a start-to-finish perspective, comparing the January average rate of 0.0030 to the December average rate of 0.0017, the exchange rate registered a net change of -43.81% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0030 was down 4.70% compared to the 2022 peak of 0.0032, 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 3,048 CAD

2022 Average 3,073 CAD

Yearly Trough Low 1,474 CAD

Transaction Impact: A difference of 1,574.26 CAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0031

0.0015

JanuMarcMayJulySeptNove

NGN to CAD 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 0.0028, compared to 0.0017 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) 0.0028

H2 Avg (Jul–Dec) 0.0017

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0013 CAD (High: 0.0029 / Low: 0.0016). On the other end, May was the most stable month, with a tight range of 0.0001 CAD (High: 0.0030 / Low: 0.0029).

June Spread (Volatile) ±0.0013

May Spread (Stable) ±0.0001

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 0.0006 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0006

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.0030) against the same month in 2022 (average: 0.0031), the exchange rate shifted by -0.0001 (-3.27%).

2023 Avg (January) 0.0030

2022 Avg (January) 0.0031

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0030	0.0029	0.0030
February	0.0030	0.0029	0.0029
March	0.0030	0.0029	0.0030
April	0.0030	0.0029	0.0029
May	0.0030	0.0029	0.0029
June	0.0029	0.0016	0.0023
July	0.0017	0.0017	0.0017
August	0.0018	0.0017	0.0018
September	0.0018	0.0017	0.0018
October	0.0018	0.0016	0.0018
November	0.0018	0.0017	0.0017
December	0.0017	0.0015	0.0017