2023 NGN to DKK Historical Review

YEARLY HIGH

0.0158 DKK

YEARLY LOW

0.0075 DKK

YEARLY AVERAGE

0.0117 DKK

2023 NGN to DKK Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to DKK exchange rate experienced significant fluctuation. The market reached its absolute peak on January 5, valuing the pair at 0.0158. Conversely, the yearly low was recorded on December 28, dropping to 0.0075.

This high-to-low spread represents a total annual volatility of 0.0083 DKK. From a start-to-finish perspective, comparing the January average rate of 0.0152 to the December average rate of 0.0084, the exchange rate registered a net change of -44.34% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0158 was down 11.88% compared to the 2022 peak of 0.0179, 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 15,763 DKK

2022 Average 16,704 DKK

Yearly Trough Low 7,504 DKK

Transaction Impact: A difference of 8,258.87 DKK purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0158

0.0078

JanuMarcMayJulySeptNove

NGN to DKK 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 0.0145, compared to 0.0088 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0057 points.

H1 Avg (Jan–Jun) 0.0145

H2 Avg (Jul–Dec) 0.0088

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0068 DKK (High: 0.0151 / Low: 0.0083). On the other end, August was the most stable month, with a tight range of 0.0004 DKK (High: 0.0091 / Low: 0.0087).

June Spread (Volatile) ±0.0068

August Spread (Stable) ±0.0004

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 0.0035 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0035

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.0152) against the same month in 2022 (average: 0.0159), the exchange rate shifted by -0.0007 (-4.47%).

2023 Avg (January) 0.0152

2022 Avg (January) 0.0159

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0158	0.0149	0.0152
February	0.0154	0.0147	0.0151
March	0.0154	0.0148	0.0151
April	0.0150	0.0146	0.0147
May	0.0151	0.0146	0.0149
June	0.0151	0.0083	0.0121
July	0.0090	0.0084	0.0087
August	0.0091	0.0087	0.0089
September	0.0093	0.0088	0.0090
October	0.0093	0.0080	0.0090
November	0.0090	0.0083	0.0086
December	0.0089	0.0075	0.0084