2024 NGN to EUR Historical Review

YEARLY HIGH

0.0011 EUR

YEARLY LOW

0.0005 EUR

YEARLY AVERAGE

0.0006 EUR

2024 NGN to EUR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to EUR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0011. Conversely, the yearly low was recorded on September 28, dropping to 0.0005.

This high-to-low spread represents a total annual volatility of 0.0005 EUR. From a start-to-finish perspective, comparing the January average rate of 0.0010 to the December average rate of 0.0006, the exchange rate registered a net change of -39.56% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0011 was down 49.55% compared to the 2023 peak of 0.0021, 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 1,069 EUR

2023 Average 1,560 EUR

Yearly Trough Low 536 EUR

Transaction Impact: A difference of 532.87 EUR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0011

0.0005

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 0.0007, compared to 0.0006 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0001 points.

H1 Avg (Jan–Jun) 0.0007

H2 Avg (Jul–Dec) 0.0006

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0005 EUR (High: 0.0010 / Low: 0.0006). On the other end, November was the most stable month, with a tight range of 0.0000 EUR (High: 0.0006 / Low: 0.0006).

February Spread (Volatile) ±0.0005

November Spread (Stable) ±0.0000

Growth Streaks & Declines

Trends

Between September and December, 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 0.0003 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0003

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0010) against the same month in 2023 (average: 0.0020), the exchange rate shifted by -0.0010 (-50.67%).

2024 Avg (January) 0.0010

2023 Avg (January) 0.0020

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0011	0.0010	0.0010
February	0.0010	0.0006	0.0007
March	0.0007	0.0006	0.0006
April	0.0008	0.0007	0.0007
May	0.0008	0.0006	0.0007
June	0.0007	0.0006	0.0006
July	0.0007	0.0006	0.0006
August	0.0006	0.0006	0.0006
September	0.0006	0.0005	0.0006
October	0.0006	0.0005	0.0006
November	0.0006	0.0006	0.0006
December	0.0006	0.0006	0.0006