2024 NGN to EGP Historical Review

YEARLY HIGH

0.0404 EGP

YEARLY LOW

0.0192 EGP

YEARLY AVERAGE

0.0311 EGP

2024 NGN to EGP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to EGP exchange rate experienced significant fluctuation. The market reached its absolute peak on April 16, valuing the pair at 0.0404. Conversely, the yearly low was recorded on February 23, dropping to 0.0192.

This high-to-low spread represents a total annual volatility of 0.0212 EGP. From a start-to-finish perspective, comparing the January average rate of 0.0339 to the December average rate of 0.0322, the exchange rate registered a net change of -5.02% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0404 was down 40.14% compared to the 2023 peak of 0.0675, 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 40,377 EGP

2023 Average 51,616 EGP

Yearly Trough Low 19,209 EGP

Transaction Impact: A difference of 21,167.75 EGP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0388

0.0222

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 0.0317, compared to 0.0306 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0011 points.

H1 Avg (Jan–Jun) 0.0317

H2 Avg (Jul–Dec) 0.0306

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0153 EGP (High: 0.0345 / Low: 0.0192). On the other end, November was the most stable month, with a tight range of 0.0007 EGP (High: 0.0298 / Low: 0.0291).

February Spread (Volatile) ±0.0153

November Spread (Stable) ±0.0007

Growth Streaks & Declines

Trends

Between February and April, 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 January and February, when the average rate fell by 0.0103 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0103

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (April 2024: 0.0374) against the same month in 2023 (average: 0.0669), the exchange rate shifted by -0.0294 (-44.00%).

2024 Avg (April) 0.0374

2023 Avg (April) 0.0669

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0360	0.0322	0.0339
February	0.0345	0.0192	0.0236
March	0.0343	0.0195	0.0296
April	0.0404	0.0335	0.0374
May	0.0388	0.0310	0.0335
June	0.0341	0.0315	0.0320
July	0.0343	0.0291	0.0318
August	0.0311	0.0293	0.0306
September	0.0305	0.0289	0.0297
October	0.0300	0.0289	0.0297
November	0.0298	0.0291	0.0295
December	0.0330	0.0296	0.0322