2020 NGN to GNF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2020.
2020 NGN to GNF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2020
During 2020, the NGN to GNF exchange rate experienced significant fluctuation. The market reached its absolute peak on January 22, valuing the pair at 26.3506. Conversely, the yearly low was recorded on May 6, dropping to 24.1438.
This high-to-low spread represents a total annual volatility of 2.2068 GNF. From a start-to-finish perspective, comparing the January average rate of 26.1815 to the December average rate of 25.9071, the exchange rate registered a net change of -1.05% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2020 high of 26.3506 was down 12.65% compared to the 2019 peak of 30.1681, indicating shifts in long-term support levels.
Comparing the value generated converting 1,000,000 NGN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2020.
NGN to GNF Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 25.2411, compared to 25.3840 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1429 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2020 was March, with a trading range of 1.9195 GNF (High: 26.1948 / Low: 24.2752). On the other end, July was the most stable month, with a tight range of 0.1416 GNF (High: 24.9067 / Low: 24.7651).
Growth Streaks & Declines
TrendsBetween May and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 7 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.9004 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2020: 26.1815) against the same month in 2019 (average: 25.2097), the exchange rate shifted by +0.9717 (+3.85%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 26.3506 | 25.9310 | 26.1815 |
| February | 26.2961 | 25.8140 | 26.0153 |
| March | 26.1948 | 24.2752 | 25.5730 |
| April | 25.8678 | 24.1849 | 24.6726 |
| May | 24.6234 | 24.1438 | 24.3446 |
| June | 24.8863 | 24.3871 | 24.6594 |
| July | 24.9067 | 24.7651 | 24.8366 |
| August | 25.4303 | 24.7694 | 25.0368 |
| September | 25.6778 | 24.8393 | 25.2855 |
| October | 25.7211 | 25.3375 | 25.6014 |
| November | 25.7974 | 25.4631 | 25.6365 |
| December | 26.3369 | 25.3174 | 25.9071 |