2022 NGN to MGA Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2022.
2022 NGN to MGA Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2022
During 2022, the NGN to MGA exchange rate experienced significant fluctuation. The market reached its absolute peak on August 6, valuing the pair at 10.1580. Conversely, the yearly low was recorded on February 12, dropping to 9.5505.
This high-to-low spread represents a total annual volatility of 0.6075 MGA. From a start-to-finish perspective, comparing the January average rate of 9.6187 to the December average rate of 9.9262, the exchange rate registered a net change of 3.20% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2022 high of 10.1580 was up 0.44% compared to the 2021 peak of 10.1137, 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 2022.
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 9.6580, compared to 9.8318 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1739 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2022 was July, with a trading range of 0.4860 MGA (High: 10.1571 / Low: 9.6711). On the other end, February was the most stable month, with a tight range of 0.0843 MGA (High: 9.6348 / Low: 9.5505).
Growth Streaks & Declines
TrendsBetween May and August, 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 August and September, when the average rate fell by 0.1651 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (August 2022: 9.9207) against the same month in 2021 (average: 9.4535), the exchange rate shifted by +0.4673 (+4.94%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 9.6780 | 9.5706 | 9.6187 |
| February | 9.6348 | 9.5505 | 9.5827 |
| March | 9.7270 | 9.5861 | 9.6632 |
| April | 9.7654 | 9.5769 | 9.6739 |
| May | 9.7460 | 9.5913 | 9.6717 |
| June | 9.8278 | 9.6057 | 9.7378 |
| July | 10.1571 | 9.6711 | 9.8932 |
| August | 10.1580 | 9.7054 | 9.9207 |
| September | 9.9058 | 9.6064 | 9.7556 |
| October | 9.8260 | 9.6652 | 9.7394 |
| November | 9.8256 | 9.6677 | 9.7560 |
| December | 10.0118 | 9.8273 | 9.9262 |