2023 NGN to EGP Historical Review

YEARLY HIGH

0.0675 EGP

YEARLY LOW

0.0344 EGP

YEARLY AVERAGE

0.0517 EGP

2023 NGN to EGP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to EGP exchange rate experienced significant fluctuation. The market reached its absolute peak on May 1, valuing the pair at 0.0675. Conversely, the yearly low was recorded on December 30, dropping to 0.0344.

This high-to-low spread represents a total annual volatility of 0.0330 EGP. From a start-to-finish perspective, comparing the January average rate of 0.0629 to the December average rate of 0.0382, the exchange rate registered a net change of -39.28% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0675 was up 21.16% compared to the 2022 peak of 0.0557, 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 67,451 EGP

2022 Average 45,237 EGP

Yearly Trough Low 34,427 EGP

Transaction Impact: A difference of 33,024.45 EGP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0699

0.0353

JanuMarcMayJulySeptNove

NGN to EGP 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 0.0641, compared to 0.0394 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0247 points.

H1 Avg (Jan–Jun) 0.0641

H2 Avg (Jul–Dec) 0.0394

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0295 EGP (High: 0.0670 / Low: 0.0375). On the other end, March was the most stable month, with a tight range of 0.0009 EGP (High: 0.0674 / Low: 0.0665).

June Spread (Volatile) ±0.0295

March Spread (Stable) ±0.0009

Growth Streaks & Declines

Trends

Between January and March, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.0147 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0147

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 0.0669) against the same month in 2022 (average: 0.0444), the exchange rate shifted by +0.0224 (+50.53%).

2023 Avg (May) 0.0669

2022 Avg (May) 0.0444

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0658	0.0552	0.0629
February	0.0667	0.0654	0.0662
March	0.0674	0.0665	0.0670
April	0.0674	0.0660	0.0669
May	0.0675	0.0656	0.0669
June	0.0670	0.0375	0.0545
July	0.0407	0.0389	0.0397
August	0.0411	0.0398	0.0403
September	0.0415	0.0391	0.0399
October	0.0406	0.0350	0.0395
November	0.0396	0.0374	0.0386
December	0.0404	0.0344	0.0382