2023 NGN to CVE Historical Review

YEARLY HIGH

0.2338 CVE

YEARLY LOW

0.1110 CVE

YEARLY AVERAGE

0.1727 CVE

2023 NGN to CVE Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to CVE exchange rate experienced significant fluctuation. The market reached its absolute peak on January 5, valuing the pair at 0.2338. Conversely, the yearly low was recorded on December 30, dropping to 0.1110.

This high-to-low spread represents a total annual volatility of 0.1228 CVE. From a start-to-finish perspective, comparing the January average rate of 0.2255 to the December average rate of 0.1252, the exchange rate registered a net change of -44.49% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.2338 was down 12.21% compared to the 2022 peak of 0.2663, 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 233,817 CVE

2022 Average 248,128 CVE

Yearly Trough Low 111,031 CVE

Transaction Impact: A difference of 122,785.87 CVE purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.2355

0.1151

JanuMarcMayJulySeptNove

NGN to CVE 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 0.2154, compared to 0.1300 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0854 points.

H1 Avg (Jan–Jun) 0.2154

H2 Avg (Jul–Dec) 0.1300

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.1028 CVE (High: 0.2262 / Low: 0.1234). On the other end, April was the most stable month, with a tight range of 0.0044 CVE (High: 0.2206 / Low: 0.2162).

June Spread (Volatile) ±0.1028

April Spread (Stable) ±0.0044

Growth Streaks & Declines

Trends

Between 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 0.0517 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0517

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.2255) against the same month in 2022 (average: 0.2361), the exchange rate shifted by -0.0107 (-4.51%).

2023 Avg (January) 0.2255

2022 Avg (January) 0.2361

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.2338	0.2203	0.2255
February	0.2271	0.2191	0.2239
March	0.2272	0.2201	0.2242
April	0.2206	0.2162	0.2183
May	0.2239	0.2174	0.2204
June	0.2262	0.1234	0.1802
July	0.1333	0.1242	0.1285
August	0.1344	0.1295	0.1318
September	0.1383	0.1306	0.1334
October	0.1385	0.1174	0.1337
November	0.1344	0.1227	0.1277
December	0.1313	0.1110	0.1252