2024 NGN to ETB Historical Review

YEARLY HIGH

0.0826 ETB

YEARLY LOW

0.0348 ETB

YEARLY AVERAGE

0.0556 ETB

2024 NGN to ETB Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to ETB exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 0.0826. Conversely, the yearly low was recorded on July 26, dropping to 0.0348.

This high-to-low spread represents a total annual volatility of 0.0478 ETB. From a start-to-finish perspective, comparing the January average rate of 0.0619 to the December average rate of 0.0806, the exchange rate registered a net change of 30.21% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0826 was down 31.14% compared to the 2023 peak of 0.1199, 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 82,575 ETB

2023 Average 92,091 ETB

Yearly Trough Low 34,825 ETB

Transaction Impact: A difference of 47,750.43 ETB purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0850

0.0329

JanuMarcMayJulySeptNove

NGN to ETB 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 0.0443, compared to 0.0668 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0225 points.

H1 Avg (Jan–Jun) 0.0443

H2 Avg (Jul–Dec) 0.0668

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0279 ETB (High: 0.0631 / Low: 0.0353). On the other end, November was the most stable month, with a tight range of 0.0031 ETB (High: 0.0751 / Low: 0.0720).

February Spread (Volatile) ±0.0279

November Spread (Stable) ±0.0031

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 January and February, when the average rate fell by 0.0188 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0188

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2024: 0.0806) against the same month in 2023 (average: 0.0695), the exchange rate shifted by +0.0112 (+16.12%).

2024 Avg (December) 0.0806

2023 Avg (December) 0.0695

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0657	0.0589	0.0619
February	0.0631	0.0353	0.0432
March	0.0408	0.0353	0.0372
April	0.0473	0.0400	0.0446
May	0.0464	0.0379	0.0406
June	0.0411	0.0379	0.0386
July	0.0454	0.0348	0.0384
August	0.0709	0.0474	0.0645
September	0.0741	0.0688	0.0707
October	0.0750	0.0710	0.0735
November	0.0751	0.0720	0.0732
December	0.0826	0.0748	0.0806