2023 NGN to GHS Historical Review

YEARLY HIGH

0.0280 GHS

YEARLY LOW

0.0133 GHS

YEARLY AVERAGE

0.0198 GHS

2023 NGN to GHS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to GHS exchange rate experienced significant fluctuation. The market reached its absolute peak on February 23, valuing the pair at 0.0280. Conversely, the yearly low was recorded on December 29, dropping to 0.0133.

This high-to-low spread represents a total annual volatility of 0.0147 GHS. From a start-to-finish perspective, comparing the January average rate of 0.0252 to the December average rate of 0.0149, the exchange rate registered a net change of -40.92% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0280 was down 14.92% compared to the 2022 peak of 0.0329, 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 28,030 GHS

2022 Average 21,157 GHS

Yearly Trough Low 13,345 GHS

Transaction Impact: A difference of 14,685.58 GHS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0284

0.0134

JanuMarcMayJulySeptNove

NGN to GHS 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 0.0247, compared to 0.0148 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0099 points.

H1 Avg (Jan–Jun) 0.0247

H2 Avg (Jul–Dec) 0.0148

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0107 GHS (High: 0.0245 / Low: 0.0137). On the other end, August was the most stable month, with a tight range of 0.0007 GHS (High: 0.0150 / Low: 0.0144).

June Spread (Volatile) ±0.0107

August Spread (Stable) ±0.0007

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 0.0053 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0053

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (February 2023: 0.0271) against the same month in 2022 (average: 0.0156), the exchange rate shifted by +0.0115 (+73.37%).

2023 Avg (February) 0.0271

2022 Avg (February) 0.0156

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0274	0.0187	0.0252
February	0.0280	0.0264	0.0271
March	0.0278	0.0253	0.0268
April	0.0261	0.0232	0.0248
May	0.0257	0.0231	0.0246
June	0.0245	0.0137	0.0199
July	0.0151	0.0143	0.0147
August	0.0150	0.0144	0.0147
September	0.0154	0.0145	0.0148
October	0.0154	0.0134	0.0150
November	0.0153	0.0145	0.0149
December	0.0157	0.0133	0.0149