2023 NGN to GNF Historical Review

YEARLY HIGH

19.5897 GNF

YEARLY LOW

9.5902 GNF

YEARLY AVERAGE

14.5817 GNF

2023 NGN to GNF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to GNF exchange rate experienced significant fluctuation. The market reached its absolute peak on January 5, valuing the pair at 19.5897. Conversely, the yearly low was recorded on December 30, dropping to 9.5902.

This high-to-low spread represents a total annual volatility of 9.9995 GNF. From a start-to-finish perspective, comparing the January average rate of 19.0659 to the December average rate of 10.6389, the exchange rate registered a net change of -44.20% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 19.5897 was down 13.61% compared to the 2022 peak of 22.6755, 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 19,589,732 GNF

2022 Average 20,807,736 GNF

Yearly Trough Low 9,590,199 GNF

Transaction Impact: A difference of 9,999,533.08 GNF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

19.9086

9.7962

JanuMarcMayJulySeptNove

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)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 18.1964, compared to 10.9669 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 7.2295 points.

H1 Avg (Jan–Jun) 18.1964

H2 Avg (Jul–Dec) 10.9669

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 8.2234 GNF (High: 18.7338 / Low: 10.5103). On the other end, May was the most stable month, with a tight range of 0.1343 GNF (High: 18.7541 / Low: 18.6197).

June Spread (Volatile) ±8.2234

May Spread (Stable) ±0.1343

Growth Streaks & Declines

Trends

No sustained consecutive month-over-month growth streak of 2+ months occurred in 2023. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 4.1258 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -4.1258

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 19.0659) against the same month in 2022 (average: 21.9850), the exchange rate shifted by -2.9191 (-13.28%).

2023 Avg (January) 19.0659

2022 Avg (January) 21.9850

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	19.5897	18.6918	19.0659
February	19.1287	18.5282	18.7791
March	19.1721	18.6160	18.7879
April	18.7905	18.4760	18.6452
May	18.7541	18.6197	18.6957
June	18.7338	10.5103	15.2048
July	11.3775	10.8460	11.0789
August	11.4488	11.0900	11.2209
September	11.5634	10.8729	11.1185
October	11.3220	9.7526	11.0034
November	11.0743	10.3860	10.7408
December	11.2641	9.5902	10.6389