2023 NGN to CNY Historical Review

YEARLY HIGH

0.0155 CNY

YEARLY LOW

0.0079 CNY

YEARLY AVERAGE

0.0119 CNY

2023 NGN to CNY Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to CNY exchange rate experienced significant fluctuation. The market reached its absolute peak on June 13, valuing the pair at 0.0155. Conversely, the yearly low was recorded on December 30, dropping to 0.0079.

This high-to-low spread represents a total annual volatility of 0.0076 CNY. From a start-to-finish perspective, comparing the January average rate of 0.0149 to the December average rate of 0.0088, the exchange rate registered a net change of -41.07% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0155 was down 7.56% compared to the 2022 peak of 0.0167, 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 15,471 CNY

2022 Average 15,882 CNY

Yearly Trough Low 7,881 CNY

Transaction Impact: A difference of 7,589.31 CNY purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0158

0.0082

JanuMarcMayJulySeptNove

NGN to CNY 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 0.0146, compared to 0.0092 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0054 points.

H1 Avg (Jan–Jun) 0.0146

H2 Avg (Jul–Dec) 0.0092

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0067 CNY (High: 0.0155 / Low: 0.0087). On the other end, April was the most stable month, with a tight range of 0.0003 CNY (High: 0.0151 / Low: 0.0148).

June Spread (Volatile) ±0.0067

April Spread (Stable) ±0.0003

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 0.0033 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0033

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (June 2023: 0.0126) against the same month in 2022 (average: 0.0161), the exchange rate shifted by -0.0035 (-21.76%).

2023 Avg (June) 0.0126

2022 Avg (June) 0.0161

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0154	0.0147	0.0149
February	0.0152	0.0146	0.0149
March	0.0152	0.0148	0.0150
April	0.0151	0.0148	0.0149
May	0.0154	0.0150	0.0151
June	0.0155	0.0087	0.0126
July	0.0095	0.0090	0.0093
August	0.0096	0.0092	0.0094
September	0.0098	0.0092	0.0094
October	0.0096	0.0083	0.0093
November	0.0093	0.0087	0.0090
December	0.0093	0.0079	0.0088