2023 NGN to MAD Historical Review

YEARLY HIGH

0.0234 MAD

YEARLY LOW

0.0110 MAD

YEARLY AVERAGE

0.0172 MAD

2023 NGN to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 3, valuing the pair at 0.0234. Conversely, the yearly low was recorded on December 28, dropping to 0.0110.

This high-to-low spread represents a total annual volatility of 0.0124 MAD. From a start-to-finish perspective, comparing the January average rate of 0.0225 to the December average rate of 0.0124, the exchange rate registered a net change of -44.82% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0234 was down 8.95% compared to the 2022 peak of 0.0258, 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 23,446 MAD

2022 Average 23,972 MAD

Yearly Trough Low 11,017 MAD

Transaction Impact: A difference of 12,428.32 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0235

0.0114

JanuMarcMayJulySeptNove

NGN to MAD 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 0.0215, compared to 0.0128 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0087 points.

H1 Avg (Jan–Jun) 0.0215

H2 Avg (Jul–Dec) 0.0128

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0099 MAD (High: 0.0221 / Low: 0.0121). On the other end, March was the most stable month, with a tight range of 0.0005 MAD (High: 0.0227 / Low: 0.0222).

June Spread (Volatile) ±0.0099

March Spread (Stable) ±0.0005

Growth Streaks & Declines

Trends

Between July and September, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.0052 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0052

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.0225) against the same month in 2022 (average: 0.0225), the exchange rate shifted by +0.0001 (+0.26%).

2023 Avg (January) 0.0225

2022 Avg (January) 0.0225

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0234	0.0220	0.0225
February	0.0227	0.0220	0.0224
March	0.0227	0.0222	0.0225
April	0.0222	0.0215	0.0220
May	0.0222	0.0216	0.0219
June	0.0221	0.0121	0.0178
July	0.0130	0.0122	0.0125
August	0.0132	0.0126	0.0129
September	0.0137	0.0129	0.0132
October	0.0136	0.0117	0.0131
November	0.0131	0.0123	0.0127
December	0.0130	0.0110	0.0124