2024 NGN to LRD Historical Review

YEARLY HIGH

0.2204 LRD

YEARLY LOW

0.1060 LRD

YEARLY AVERAGE

0.1343 LRD

2024 NGN to LRD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to LRD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.2204. Conversely, the yearly low was recorded on November 27, dropping to 0.1060.

This high-to-low spread represents a total annual volatility of 0.1144 LRD. From a start-to-finish perspective, comparing the January average rate of 0.2076 to the December average rate of 0.1150, the exchange rate registered a net change of -44.61% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.2204 was down 41.59% compared to the 2023 peak of 0.3772, 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 220,357 LRD

2023 Average 289,421 LRD

Yearly Trough Low 105,964 LRD

Transaction Impact: A difference of 114,393.35 LRD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.2173

0.1008

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 0.1495, compared to 0.1190 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0305 points.

H1 Avg (Jan–Jun) 0.1495

H2 Avg (Jul–Dec) 0.1190

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0916 LRD (High: 0.2102 / Low: 0.1186). On the other end, October was the most stable month, with a tight range of 0.0033 LRD (High: 0.1192 / Low: 0.1159).

February Spread (Volatile) ±0.0916

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 0.0624 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0624

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.2076) against the same month in 2023 (average: 0.3418), the exchange rate shifted by -0.1342 (-39.26%).

2024 Avg (January) 0.2076

2023 Avg (January) 0.3418

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.2204	0.1973	0.2076
February	0.2102	0.1186	0.1452
March	0.1382	0.1195	0.1262
April	0.1607	0.1357	0.1510
May	0.1571	0.1278	0.1371
June	0.1383	0.1280	0.1301
July	0.1388	0.1176	0.1287
August	0.1239	0.1177	0.1225
September	0.1236	0.1161	0.1197
October	0.1192	0.1159	0.1176
November	0.1168	0.1060	0.1105
December	0.1188	0.1066	0.1150