2024 NGN to GMD Historical Review

YEARLY HIGH

0.0783 GMD

YEARLY LOW

0.0408 GMD

YEARLY AVERAGE

0.0482 GMD

2024 NGN to GMD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to GMD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0783. Conversely, the yearly low was recorded on July 28, dropping to 0.0408.

This high-to-low spread represents a total annual volatility of 0.0375 GMD. From a start-to-finish perspective, comparing the January average rate of 0.0739 to the December average rate of 0.0457, the exchange rate registered a net change of -38.09% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0783 was down 43.49% compared to the 2023 peak of 0.1385, 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 78,283 GMD

2023 Average 104,615 GMD

Yearly Trough Low 40,822 GMD

Transaction Impact: A difference of 37,461.71 GMD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0770

0.0391

JanuMarcMayJulySeptNove

NGN to GMD 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 0.0528, compared to 0.0436 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0092 points.

H1 Avg (Jan–Jun) 0.0528

H2 Avg (Jul–Dec) 0.0436

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0326 GMD (High: 0.0745 / Low: 0.0419). On the other end, October was the most stable month, with a tight range of 0.0015 GMD (High: 0.0431 / Low: 0.0416).

February Spread (Volatile) ±0.0326

October Spread (Stable) ±0.0015

Growth Streaks & Declines

Trends

Between October and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 0.0223 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0223

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0739) against the same month in 2023 (average: 0.1364), the exchange rate shifted by -0.0626 (-45.86%).

2024 Avg (January) 0.0739

2023 Avg (January) 0.1364

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0783	0.0702	0.0739
February	0.0745	0.0419	0.0515
March	0.0487	0.0422	0.0446
April	0.0565	0.0477	0.0532
May	0.0549	0.0448	0.0480
June	0.0482	0.0446	0.0454
July	0.0482	0.0408	0.0448
August	0.0447	0.0415	0.0437
September	0.0447	0.0411	0.0426
October	0.0431	0.0416	0.0423
November	0.0435	0.0418	0.0425
December	0.0466	0.0422	0.0457