2024 NGN to CNY Historical Review

YEARLY HIGH

0.0083 CNY

YEARLY LOW

0.0042 CNY

YEARLY AVERAGE

0.0050 CNY

2024 NGN to CNY Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to CNY exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0083. Conversely, the yearly low was recorded on September 28, dropping to 0.0042.

This high-to-low spread represents a total annual volatility of 0.0041 CNY. From a start-to-finish perspective, comparing the January average rate of 0.0078 to the December average rate of 0.0046, the exchange rate registered a net change of -40.60% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0083 was down 46.38% 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 8,295 CNY

2023 Average 11,871 CNY

Yearly Trough Low 4,202 CNY

Transaction Impact: A difference of 4,093.04 CNY purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0082

0.0040

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 0.0056, compared to 0.0045 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) 0.0056

H2 Avg (Jul–Dec) 0.0045

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0035 CNY (High: 0.0079 / Low: 0.0045). On the other end, November was the most stable month, with a tight range of 0.0001 CNY (High: 0.0043 / Low: 0.0043).

February Spread (Volatile) ±0.0035

November 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 0.0024 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0024

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0078) against the same month in 2023 (average: 0.0149), the exchange rate shifted by -0.0071 (-47.76%).

2024 Avg (January) 0.0078

2023 Avg (January) 0.0149

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0083	0.0074	0.0078
February	0.0079	0.0045	0.0055
March	0.0052	0.0045	0.0047
April	0.0060	0.0051	0.0057
May	0.0059	0.0047	0.0051
June	0.0052	0.0047	0.0048
July	0.0052	0.0043	0.0048
August	0.0045	0.0044	0.0045
September	0.0045	0.0042	0.0043
October	0.0044	0.0042	0.0043
November	0.0043	0.0043	0.0043
December	0.0047	0.0043	0.0046