2023 NGN to EUR Historical Review

YEARLY HIGH

0.0021 EUR

YEARLY LOW

0.0010 EUR

YEARLY AVERAGE

0.0016 EUR

2023 NGN to EUR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to EUR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 5, valuing the pair at 0.0021. Conversely, the yearly low was recorded on December 28, dropping to 0.0010.

This high-to-low spread represents a total annual volatility of 0.0011 EUR. From a start-to-finish perspective, comparing the January average rate of 0.0020 to the December average rate of 0.0011, the exchange rate registered a net change of -44.47% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0021 was down 11.88% compared to the 2022 peak of 0.0024, 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 2,120 EUR

2022 Average 2,245 EUR

Yearly Trough Low 1,007 EUR

Transaction Impact: A difference of 1,112.94 EUR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0021

0.0010

JanuMarcMayJulySeptNove

NGN to EUR 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 0.0019, compared to 0.0012 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0008 points.

H1 Avg (Jan–Jun) 0.0019

H2 Avg (Jul–Dec) 0.0012

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0009 EUR (High: 0.0020 / Low: 0.0011). On the other end, August was the most stable month, with a tight range of 0.0001 EUR (High: 0.0012 / Low: 0.0012).

June Spread (Volatile) ±0.0009

August Spread (Stable) ±0.0001

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 0.0005 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0005

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.0020) against the same month in 2022 (average: 0.0021), the exchange rate shifted by -0.0001 (-4.47%).

2023 Avg (January) 0.0020

2022 Avg (January) 0.0021

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0021	0.0020	0.0020
February	0.0021	0.0020	0.0020
March	0.0021	0.0020	0.0020
April	0.0020	0.0019	0.0020
May	0.0020	0.0019	0.0020
June	0.0020	0.0011	0.0016
July	0.0012	0.0011	0.0012
August	0.0012	0.0012	0.0012
September	0.0012	0.0012	0.0012
October	0.0012	0.0011	0.0012
November	0.0012	0.0011	0.0012
December	0.0012	0.0010	0.0011