2023 NGN to DJF Historical Review

YEARLY HIGH

0.3975 DJF

YEARLY LOW

0.1983 DJF

YEARLY AVERAGE

0.3007 DJF

2023 NGN to DJF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to DJF exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 0.3975. Conversely, the yearly low was recorded on December 29, dropping to 0.1983.

This high-to-low spread represents a total annual volatility of 0.1992 DJF. From a start-to-finish perspective, comparing the January average rate of 0.3910 to the December average rate of 0.2203, the exchange rate registered a net change of -43.67% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.3975 was down 8.23% compared to the 2022 peak of 0.4332, 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 397,538 DJF

2022 Average 420,475 DJF

Yearly Trough Low 198,327 DJF

Transaction Impact: A difference of 199,210.82 DJF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.4081

0.2032

JanuMarcMayJulySeptNove

NGN to DJF 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 0.3748, compared to 0.2267 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.1480 points.

H1 Avg (Jan–Jun) 0.3748

H2 Avg (Jul–Dec) 0.2267

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.1710 DJF (High: 0.3870 / Low: 0.2161). On the other end, March was the most stable month, with a tight range of 0.0016 DJF (High: 0.3874 / Low: 0.3859).

June Spread (Volatile) ±0.1710

March Spread (Stable) ±0.0016

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 0.0851 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0851

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.3910) against the same month in 2022 (average: 0.4298), the exchange rate shifted by -0.0388 (-9.03%).

2023 Avg (January) 0.3910

2022 Avg (January) 0.4298

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.3975	0.3860	0.3910
February	0.3902	0.3832	0.3866
March	0.3874	0.3859	0.3865
April	0.3870	0.3803	0.3851
May	0.3872	0.3838	0.3855
June	0.3870	0.2161	0.3138
July	0.2340	0.2239	0.2287
August	0.2368	0.2291	0.2318
September	0.2389	0.2256	0.2300
October	0.2338	0.2009	0.2276
November	0.2262	0.2152	0.2219
December	0.2328	0.1983	0.2203