2023 NGN to LRD Historical Review

YEARLY HIGH

0.3772 LRD

YEARLY LOW

0.2098 LRD

YEARLY AVERAGE

0.2898 LRD

2023 NGN to LRD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to LRD exchange rate experienced significant fluctuation. The market reached its absolute peak on June 15, valuing the pair at 0.3772. Conversely, the yearly low was recorded on December 30, dropping to 0.2098.

This high-to-low spread represents a total annual volatility of 0.1674 LRD. From a start-to-finish perspective, comparing the January average rate of 0.3418 to the December average rate of 0.2328, the exchange rate registered a net change of -31.89% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.3772 was up 1.35% compared to the 2022 peak of 0.3722, 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 377,229 LRD

2022 Average 361,014 LRD

Yearly Trough Low 209,816 LRD

Transaction Impact: A difference of 167,412.62 LRD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.3749

0.2199

JanuMarcMayJulySeptNove

NGN to LRD 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 0.3418, compared to 0.2377 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.1040 points.

H1 Avg (Jan–Jun) 0.3418

H2 Avg (Jul–Dec) 0.2377

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.1615 LRD (High: 0.3772 / Low: 0.2157). On the other end, January was the most stable month, with a tight range of 0.0070 LRD (High: 0.3455 / Low: 0.3385).

June Spread (Volatile) ±0.1615

January Spread (Stable) ±0.0070

Growth Streaks & Declines

Trends

Between February and May, 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 June and July, when the average rate fell by 0.0700 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0700

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (June 2023: 0.3065) against the same month in 2022 (average: 0.3656), the exchange rate shifted by -0.0591 (-16.17%).

2023 Avg (June) 0.3065

2022 Avg (June) 0.3656

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.3455	0.3385	0.3418
February	0.3456	0.3323	0.3399
March	0.3548	0.3339	0.3469
April	0.3589	0.3496	0.3536
May	0.3668	0.3586	0.3620
June	0.3772	0.2157	0.3065
July	0.2451	0.2327	0.2365
August	0.2486	0.2397	0.2428
September	0.2503	0.2361	0.2408
October	0.2459	0.2116	0.2391
November	0.2401	0.2282	0.2346
December	0.2465	0.2098	0.2328