2024 NGN to CVE Historical Review

YEARLY HIGH

0.1180 CVE

YEARLY LOW

0.0592 CVE

YEARLY AVERAGE

0.0716 CVE

2024 NGN to CVE Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to CVE exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.1180. Conversely, the yearly low was recorded on September 30, dropping to 0.0592.

This high-to-low spread represents a total annual volatility of 0.0588 CVE. From a start-to-finish perspective, comparing the January average rate of 0.1110 to the December average rate of 0.0670, the exchange rate registered a net change of -39.64% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.1180 was down 49.54% compared to the 2023 peak of 0.2338, 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 117,983 CVE

2023 Average 172,393 CVE

Yearly Trough Low 59,174 CVE

Transaction Impact: A difference of 58,808.93 CVE purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.1160

0.0558

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 0.0795, compared to 0.0636 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0159 points.

H1 Avg (Jan–Jun) 0.0795

H2 Avg (Jul–Dec) 0.0636

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0501 CVE (High: 0.1137 / Low: 0.0635). On the other end, August was the most stable month, with a tight range of 0.0023 CVE (High: 0.0639 / Low: 0.0616).

February Spread (Volatile) ±0.0501

August Spread (Stable) ±0.0023

Growth Streaks & Declines

Trends

Between September and December, 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 January and February, when the average rate fell by 0.0330 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0330

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.1110) against the same month in 2023 (average: 0.2255), the exchange rate shifted by -0.1144 (-50.76%).

2024 Avg (January) 0.1110

2023 Avg (January) 0.2255

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.1180	0.1050	0.1110
February	0.1137	0.0635	0.0780
March	0.0733	0.0627	0.0666
April	0.0863	0.0723	0.0805
May	0.0839	0.0671	0.0724
June	0.0733	0.0673	0.0688
July	0.0725	0.0612	0.0671
August	0.0639	0.0616	0.0628
September	0.0629	0.0592	0.0608
October	0.0624	0.0596	0.0618
November	0.0629	0.0606	0.0620
December	0.0686	0.0621	0.0670