2023 NGN to ISK Historical Review

YEARLY HIGH

0.3228 ISK

YEARLY LOW

0.1512 ISK

YEARLY AVERAGE

0.2341 ISK

2023 NGN to ISK Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to ISK exchange rate experienced significant fluctuation. The market reached its absolute peak on January 5, valuing the pair at 0.3228. Conversely, the yearly low was recorded on December 28, dropping to 0.1512.

This high-to-low spread represents a total annual volatility of 0.1716 ISK. From a start-to-finish perspective, comparing the January average rate of 0.3144 to the December average rate of 0.1705, the exchange rate registered a net change of -45.75% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.3228 was down 4.74% compared to the 2022 peak of 0.3389, 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 322,801 ISK

2022 Average 319,240 ISK

Yearly Trough Low 151,153 ISK

Transaction Impact: A difference of 171,648.12 ISK purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.3287

0.1561

JanuMarcMayJulySeptNove

NGN to ISK 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 0.2949, compared to 0.1733 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.1215 points.

H1 Avg (Jan–Jun) 0.2949

H2 Avg (Jul–Dec) 0.1733

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.1396 ISK (High: 0.3057 / Low: 0.1661). On the other end, August was the most stable month, with a tight range of 0.0070 ISK (High: 0.1756 / Low: 0.1686).

June Spread (Volatile) ±0.1396

August Spread (Stable) ±0.0070

Growth Streaks & Declines

Trends

Between July and October, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.0728 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0728

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.3144) against the same month in 2022 (average: 0.3117), the exchange rate shifted by +0.0026 (+0.84%).

2023 Avg (January) 0.3144

2022 Avg (January) 0.3117

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.3228	0.3060	0.3144
February	0.3154	0.3027	0.3108
March	0.3098	0.2950	0.3044
April	0.2995	0.2920	0.2959
May	0.3057	0.2945	0.3001
June	0.3057	0.1661	0.2437
July	0.1795	0.1652	0.1708
August	0.1756	0.1686	0.1718
September	0.1794	0.1700	0.1749
October	0.1821	0.1571	0.1773
November	0.1789	0.1693	0.1747
December	0.1786	0.1512	0.1705