2024 NGN to ISK Historical Review

YEARLY HIGH

0.1599 ISK

YEARLY LOW

0.0809 ISK

YEARLY AVERAGE

0.0968 ISK

2024 NGN to ISK Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to ISK exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.1599. Conversely, the yearly low was recorded on September 30, dropping to 0.0809.

This high-to-low spread represents a total annual volatility of 0.0789 ISK. From a start-to-finish perspective, comparing the January average rate of 0.1503 to the December average rate of 0.0883, the exchange rate registered a net change of -41.24% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.1599 was down 50.47% compared to the 2023 peak of 0.3228, 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 159,872 ISK

2023 Average 233,604 ISK

Yearly Trough Low 80,947 ISK

Transaction Impact: A difference of 78,925.54 ISK purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.1571

0.0757

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 0.1078, compared to 0.0859 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0219 points.

H1 Avg (Jan–Jun) 0.1078

H2 Avg (Jul–Dec) 0.0859

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0668 ISK (High: 0.1524 / Low: 0.0855). On the other end, November was the most stable month, with a tight range of 0.0027 ISK (High: 0.0837 / Low: 0.0811).

February Spread (Volatile) ±0.0668

November Spread (Stable) ±0.0027

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 0.0453 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0453

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.1503) against the same month in 2023 (average: 0.3144), the exchange rate shifted by -0.1641 (-52.19%).

2024 Avg (January) 0.1503

2023 Avg (January) 0.3144

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.1599	0.1423	0.1503
February	0.1524	0.0855	0.1050
March	0.0998	0.0839	0.0900
April	0.1182	0.0985	0.1099
May	0.1134	0.0912	0.0983
June	0.0987	0.0915	0.0930
July	0.0981	0.0832	0.0909
August	0.0874	0.0837	0.0863
September	0.0874	0.0809	0.0838
October	0.0842	0.0810	0.0835
November	0.0837	0.0811	0.0825
December	0.0903	0.0818	0.0883