2023 NGN to CLP Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 NGN to CLP Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the NGN to CLP exchange rate experienced significant fluctuation. The market reached its absolute peak on January 3, valuing the pair at 1.9219. Conversely, the yearly low was recorded on June 23, dropping to 0.9764.
This high-to-low spread represents a total annual volatility of 0.9455 CLP. From a start-to-finish perspective, comparing the January average rate of 1.8112 to the December average rate of 1.0834, the exchange rate registered a net change of -40.19% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 1.9219 was down 24.02% compared to the 2022 peak of 2.5295, indicating shifts in long-term support levels.
Comparing the value generated converting 1,000,000 NGN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
NGN to CLP Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 1.6981, compared to 1.1146 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.5835 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was June, with a trading range of 0.7728 CLP (High: 1.7491 / Low: 0.9764). On the other end, August was the most stable month, with a tight range of 0.0575 CLP (High: 1.1458 / Low: 1.0883).
Growth Streaks & Declines
TrendsBetween July and October, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.3561 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2023: 1.8112) against the same month in 2022 (average: 1.9834), the exchange rate shifted by -0.1721 (-8.68%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 1.9219 | 1.7257 | 1.8112 |
| February | 1.8106 | 1.6977 | 1.7399 |
| March | 1.8106 | 1.7123 | 1.7567 |
| April | 1.7814 | 1.7167 | 1.7454 |
| May | 1.7637 | 1.6989 | 1.7296 |
| June | 1.7491 | 0.9764 | 1.4056 |
| July | 1.1051 | 1.0192 | 1.0495 |
| August | 1.1458 | 1.0883 | 1.1164 |
| September | 1.1986 | 1.1021 | 1.1449 |
| October | 1.2345 | 1.0479 | 1.1867 |
| November | 1.1521 | 1.0622 | 1.1067 |
| December | 1.1679 | 0.9808 | 1.0834 |