2023 NGN to JMD Historical Review

YEARLY HIGH

0.3393 JMD

YEARLY LOW

0.1723 JMD

YEARLY AVERAGE

0.2602 JMD

2023 NGN to JMD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to JMD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 0.3393. Conversely, the yearly low was recorded on December 30, dropping to 0.1723.

This high-to-low spread represents a total annual volatility of 0.1670 JMD. From a start-to-finish perspective, comparing the January average rate of 0.3363 to the December average rate of 0.1921, the exchange rate registered a net change of -42.88% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.3393 was down 10.24% compared to the 2022 peak of 0.3780, 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 339,280 JMD

2022 Average 362,416 JMD

Yearly Trough Low 172,319 JMD

Transaction Impact: A difference of 166,961.21 JMD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.3507

0.1777

JanuMarcMayJulySeptNove

NGN to JMD 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 0.3230, compared to 0.1973 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.1257 points.

H1 Avg (Jan–Jun) 0.3230

H2 Avg (Jul–Dec) 0.1973

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.1489 JMD (High: 0.3365 / Low: 0.1875). On the other end, February was the most stable month, with a tight range of 0.0042 JMD (High: 0.3370 / Low: 0.3328).

June Spread (Volatile) ±0.1489

February Spread (Stable) ±0.0042

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 0.0739 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0739

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.3363) against the same month in 2022 (average: 0.3745), the exchange rate shifted by -0.0382 (-10.20%).

2023 Avg (January) 0.3363

2022 Avg (January) 0.3745

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.3393	0.3313	0.3363
February	0.3370	0.3328	0.3351
March	0.3347	0.3272	0.3304
April	0.3330	0.3247	0.3298
May	0.3371	0.3317	0.3340
June	0.3365	0.1875	0.2724
July	0.2035	0.1947	0.1985
August	0.2057	0.1988	0.2015
September	0.2072	0.1956	0.1997
October	0.2042	0.1752	0.1983
November	0.1981	0.1884	0.1940
December	0.2031	0.1723	0.1921