2024 NGN to JMD Historical Review

YEARLY HIGH

0.1805 JMD

YEARLY LOW

0.0930 JMD

YEARLY AVERAGE

0.1097 JMD

2024 NGN to JMD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to JMD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.1805. Conversely, the yearly low was recorded on November 26, dropping to 0.0930.

This high-to-low spread represents a total annual volatility of 0.0874 JMD. From a start-to-finish perspective, comparing the January average rate of 0.1702 to the December average rate of 0.0996, the exchange rate registered a net change of -41.49% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.1805 was down 46.81% compared to the 2023 peak of 0.3393, 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 180,469 JMD

2023 Average 259,691 JMD

Yearly Trough Low 93,038 JMD

Transaction Impact: A difference of 87,430.87 JMD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.1778

0.0871

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 0.1212, compared to 0.0981 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0231 points.

H1 Avg (Jan–Jun) 0.1212

H2 Avg (Jul–Dec) 0.0981

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0766 JMD (High: 0.1740 / Low: 0.0973). On the other end, October was the most stable month, with a tight range of 0.0033 JMD (High: 0.0976 / Low: 0.0943).

February Spread (Volatile) ±0.0766

October Spread (Stable) ±0.0033

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 0.0510 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0510

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.1702) against the same month in 2023 (average: 0.3363), the exchange rate shifted by -0.1661 (-49.38%).

2024 Avg (January) 0.1702

2023 Avg (January) 0.3363

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.1805	0.1621	0.1702
February	0.1740	0.0973	0.1192
March	0.1103	0.0960	0.1014
April	0.1293	0.1083	0.1215
May	0.1271	0.1031	0.1107
June	0.1110	0.1027	0.1044
July	0.1116	0.0942	0.1033
August	0.0995	0.0941	0.0982
September	0.0987	0.0941	0.0961
October	0.0976	0.0943	0.0967
November	0.0965	0.0930	0.0947
December	0.1012	0.0935	0.0996