2018 NGN to MGA Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2018.
2018 NGN to MGA Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2018
During 2018, the NGN to MGA exchange rate experienced significant fluctuation. The market reached its absolute peak on November 22, valuing the pair at 10.1082. Conversely, the yearly low was recorded on March 8, dropping to 8.5347.
This high-to-low spread represents a total annual volatility of 1.5735 MGA. From a start-to-finish perspective, comparing the January average rate of 9.0039 to the December average rate of 9.7560, the exchange rate registered a net change of 8.35% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2018 high of 10.1082 was down 7.65% compared to the 2017 peak of 10.9456, 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 2018.
NGN to MGA 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 8.9768, compared to 9.5204 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.5436 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2018 was December, with a trading range of 0.5531 MGA (High: 10.1005 / Low: 9.5473). On the other end, August was the most stable month, with a tight range of 0.1504 MGA (High: 9.2475 / Low: 9.0971).
Growth Streaks & Declines
TrendsBetween March and June, 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 0.2128 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2018: 9.8988) against the same month in 2017 (average: 8.8419), the exchange rate shifted by +1.0569 (+11.95%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 9.0925 | 8.9028 | 9.0039 |
| February | 8.9677 | 8.6565 | 8.7911 |
| March | 8.9321 | 8.5347 | 8.7478 |
| April | 9.0443 | 8.8880 | 8.9378 |
| May | 9.2379 | 8.9459 | 9.0476 |
| June | 9.4631 | 9.1886 | 9.3328 |
| July | 9.4103 | 9.0731 | 9.2715 |
| August | 9.2475 | 9.0971 | 9.1622 |
| September | 9.4886 | 9.2127 | 9.3962 |
| October | 9.7402 | 9.4471 | 9.6377 |
| November | 10.1082 | 9.7048 | 9.8988 |
| December | 10.1005 | 9.5473 | 9.7560 |