2023 NGN to IRR Historical Review

YEARLY HIGH

93.5910 IRR

YEARLY LOW

46.7752 IRR

YEARLY AVERAGE

71.3818 IRR

2023 NGN to IRR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to IRR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 93.5910. Conversely, the yearly low was recorded on December 30, dropping to 46.7752.

This high-to-low spread represents a total annual volatility of 46.8159 IRR. From a start-to-finish perspective, comparing the January average rate of 92.2519 to the December average rate of 52.2342, the exchange rate registered a net change of -43.38% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 93.5910 was down 8.96% compared to the 2022 peak of 102.8047, 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 93,591,010 IRR

2022 Average 99,840,491 IRR

Yearly Trough Low 46,775,156 IRR

Transaction Impact: A difference of 46,815,853.82 IRR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

96.2536

48.2325

JanuMarcMayJulySeptNove

NGN to IRR 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 88.9082, compared to 53.8553 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 35.0529 points.

H1 Avg (Jan–Jun) 88.9082

H2 Avg (Jul–Dec) 53.8553

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 40.3779 IRR (High: 91.7448 / Low: 51.3670). On the other end, May was the most stable month, with a tight range of 0.4957 IRR (High: 91.8334 / Low: 91.3377).

June Spread (Volatile) ±40.3779

May Spread (Stable) ±0.4957

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 20.1444 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -20.1444

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 92.2519) against the same month in 2022 (average: 102.1402), the exchange rate shifted by -9.8883 (-9.68%).

2023 Avg (January) 92.2519

2022 Avg (January) 102.1402

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	93.5910	90.8793	92.2519
February	92.2113	90.3671	91.7082
March	93.0684	90.4144	91.7195
April	92.1377	90.8602	91.6164
May	91.8334	91.3377	91.6328
June	91.7448	51.3670	74.5206
July	55.6286	53.0415	54.3762
August	56.3440	54.3862	55.0938
September	56.7210	53.5730	54.5967
October	55.6883	47.8291	54.0551
November	54.0783	51.3332	52.7759
December	55.2976	46.7752	52.2342