2024 NGN to INR Historical Review

YEARLY HIGH

0.0968 INR

YEARLY LOW

0.0498 INR

YEARLY AVERAGE

0.0587 INR

2024 NGN to INR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to INR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0968. Conversely, the yearly low was recorded on November 22, dropping to 0.0498.

This high-to-low spread represents a total annual volatility of 0.0470 INR. From a start-to-finish perspective, comparing the January average rate of 0.0912 to the December average rate of 0.0541, the exchange rate registered a net change of -40.67% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0968 was down 47.71% compared to the 2023 peak of 0.1851, 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 96,773 INR

2023 Average 139,213 INR

Yearly Trough Low 49,766 INR

Transaction Impact: A difference of 47,006.82 INR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0953

0.0463

JanuMarcMayJulySeptNove

NGN to INR 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 0.0649, compared to 0.0525 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0124 points.

H1 Avg (Jan–Jun) 0.0649

H2 Avg (Jul–Dec) 0.0525

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0402 INR (High: 0.0918 / Low: 0.0516). On the other end, November was the most stable month, with a tight range of 0.0015 INR (High: 0.0512 / Low: 0.0498).

February Spread (Volatile) ±0.0402

November Spread (Stable) ±0.0015

Growth Streaks & Declines

Trends

No sustained consecutive month-over-month growth streak of 2+ months occurred in 2024. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 0.0280 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0280

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0912) against the same month in 2023 (average: 0.1798), the exchange rate shifted by -0.0886 (-49.26%).

2024 Avg (January) 0.0912

2023 Avg (January) 0.1798

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0968	0.0865	0.0912
February	0.0918	0.0516	0.0633
March	0.0598	0.0514	0.0545
April	0.0697	0.0587	0.0653
May	0.0676	0.0551	0.0590
June	0.0593	0.0549	0.0560
July	0.0595	0.0504	0.0552
August	0.0533	0.0504	0.0525
September	0.0528	0.0502	0.0513
October	0.0518	0.0502	0.0513
November	0.0512	0.0498	0.0504
December	0.0555	0.0503	0.0541