2024 NGN to GBP Historical Review

YEARLY HIGH

0.0009 GBP

YEARLY LOW

0.0004 GBP

YEARLY AVERAGE

0.0005 GBP

2024 NGN to GBP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to GBP exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0009. Conversely, the yearly low was recorded on September 30, dropping to 0.0004.

This high-to-low spread represents a total annual volatility of 0.0005 GBP. From a start-to-finish perspective, comparing the January average rate of 0.0009 to the December average rate of 0.0005, the exchange rate registered a net change of -41.65% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0009 was down 50.96% compared to the 2023 peak of 0.0019, 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 918 GBP

2023 Average 1,361 GBP

Yearly Trough Low 448 GBP

Transaction Impact: A difference of 470.50 GBP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0009

0.0004

JanuMarcMayJulySeptNove

NGN to GBP 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 0.0006, compared to 0.0005 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) 0.0006

H2 Avg (Jul–Dec) 0.0005

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0004 GBP (High: 0.0009 / Low: 0.0005). On the other end, November was the most stable month, with a tight range of 0.0000 GBP (High: 0.0005 / Low: 0.0005).

February Spread (Volatile) ±0.0004

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: 0.0009) against the same month in 2023 (average: 0.0018), the exchange rate shifted by -0.0009 (-51.93%).

2024 Avg (January) 0.0009

2023 Avg (January) 0.0018

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0009	0.0008	0.0009
February	0.0009	0.0005	0.0006
March	0.0006	0.0005	0.0005
April	0.0007	0.0006	0.0006
May	0.0006	0.0005	0.0006
June	0.0006	0.0005	0.0005
July	0.0006	0.0005	0.0005
August	0.0005	0.0005	0.0005
September	0.0005	0.0004	0.0005
October	0.0005	0.0005	0.0005
November	0.0005	0.0005	0.0005
December	0.0005	0.0005	0.0005