2024 NGN to DJF Historical Review

YEARLY HIGH

0.2069 DJF

YEARLY LOW

0.1046 DJF

YEARLY AVERAGE

0.1248 DJF

2024 NGN to DJF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to DJF exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.2069. Conversely, the yearly low was recorded on November 22, dropping to 0.1046.

This high-to-low spread represents a total annual volatility of 0.1023 DJF. From a start-to-finish perspective, comparing the January average rate of 0.1953 to the December average rate of 0.1133, the exchange rate registered a net change of -42.01% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.2069 was down 47.95% compared to the 2023 peak of 0.3975, 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 206,927 DJF

2023 Average 300,165 DJF

Yearly Trough Low 104,615 DJF

Transaction Impact: A difference of 102,311.77 DJF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.2042

0.0973

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 0.1387, compared to 0.1109 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0277 points.

H1 Avg (Jan–Jun) 0.1387

H2 Avg (Jul–Dec) 0.1109

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0879 DJF (High: 0.1985 / Low: 0.1107). On the other end, October was the most stable month, with a tight range of 0.0034 DJF (High: 0.1098 / Low: 0.1063).

February Spread (Volatile) ±0.0879

October Spread (Stable) ±0.0034

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 0.0596 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0596

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.1953) against the same month in 2023 (average: 0.3910), the exchange rate shifted by -0.1957 (-50.05%).

2024 Avg (January) 0.1953

2023 Avg (January) 0.3910

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.2069	0.1856	0.1953
February	0.1985	0.1107	0.1357
March	0.1275	0.1104	0.1166
April	0.1480	0.1250	0.1393
May	0.1439	0.1174	0.1258
June	0.1265	0.1170	0.1192
July	0.1267	0.1070	0.1174
August	0.1128	0.1070	0.1113
September	0.1118	0.1065	0.1089
October	0.1098	0.1063	0.1086
November	0.1084	0.1046	0.1062
December	0.1151	0.1057	0.1133