2023 NGN to KRW Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 NGN to KRW Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the NGN to KRW exchange rate experienced significant fluctuation. The market reached its absolute peak on May 1, valuing the pair at 2.9176. Conversely, the yearly low was recorded on December 28, dropping to 1.4329.
This high-to-low spread represents a total annual volatility of 1.4847 KRW. From a start-to-finish perspective, comparing the January average rate of 2.7337 to the December average rate of 1.6098, the exchange rate registered a net change of -41.11% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 2.9176 was down 12.41% compared to the 2022 peak of 3.3310, indicating shifts in long-term support levels.
Comparing the value generated converting 1,000,000 NGN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
NGN to KRW Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 2.7298, compared to 1.6787 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 1.0511 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was June, with a trading range of 1.2582 KRW (High: 2.8482 / Low: 1.5899). On the other end, May was the most stable month, with a tight range of 0.0761 KRW (High: 2.9176 / Low: 2.8415).
Growth Streaks & Declines
TrendsBetween January and May, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.6280 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (May 2023: 2.8786) against the same month in 2022 (average: 3.0518), the exchange rate shifted by -0.1731 (-5.67%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 2.8523 | 2.6724 | 2.7337 |
| February | 2.8731 | 2.6543 | 2.7801 |
| March | 2.8829 | 2.7961 | 2.8390 |
| April | 2.9131 | 2.8081 | 2.8651 |
| May | 2.9176 | 2.8415 | 2.8786 |
| June | 2.8482 | 1.5899 | 2.2822 |
| July | 1.7328 | 1.5996 | 1.6542 |
| August | 1.7666 | 1.6678 | 1.7248 |
| September | 1.7783 | 1.6769 | 1.7236 |
| October | 1.7755 | 1.5212 | 1.7277 |
| November | 1.7126 | 1.5711 | 1.6320 |
| December | 1.6956 | 1.4329 | 1.6098 |