2024 NGN to KRW Historical Review

YEARLY HIGH

1.5659 KRW

YEARLY LOW

0.7853 KRW

YEARLY AVERAGE

0.9554 KRW

2024 NGN to KRW Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to KRW exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 1.5659. Conversely, the yearly low was recorded on September 28, dropping to 0.7853.

This high-to-low spread represents a total annual volatility of 0.7806 KRW. From a start-to-finish perspective, comparing the January average rate of 1.4543 to the December average rate of 0.9177, the exchange rate registered a net change of -36.90% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 1.5659 was down 46.33% compared to the 2023 peak of 2.9176, 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 1,565,917 KRW

2023 Average 2,200,356 KRW

Yearly Trough Low 785,318 KRW

Transaction Impact: A difference of 780,598.83 KRW purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

1.5183

0.7502

JanuMarcMayJulySeptNove

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)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 1.0517, compared to 0.8592 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.1925 points.

H1 Avg (Jan–Jun) 1.0517

H2 Avg (Jul–Dec) 0.8592

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.6516 KRW (High: 1.4795 / Low: 0.8279). On the other end, November was the most stable month, with a tight range of 0.0180 KRW (High: 0.8420 / Low: 0.8239).

February Spread (Volatile) ±0.6516

November Spread (Stable) ±0.0180

Growth Streaks & Declines

Trends

Between September and December, 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 January and February, when the average rate fell by 0.4382 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.4382

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 1.4543) against the same month in 2023 (average: 2.7337), the exchange rate shifted by -1.2794 (-46.80%).

2024 Avg (January) 1.4543

2023 Avg (January) 2.7337

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.5659	1.3718	1.4543
February	1.4795	0.8279	1.0161
March	0.9678	0.8167	0.8744
April	1.1587	0.9542	1.0731
May	1.1072	0.8899	0.9659
June	0.9824	0.9110	0.9263
July	0.9859	0.8240	0.9127
August	0.8703	0.8249	0.8457
September	0.8421	0.7853	0.8142
October	0.8442	0.7931	0.8314
November	0.8420	0.8239	0.8332
December	0.9543	0.8300	0.9177