2024 NGN to MNT Historical Review

YEARLY HIGH

4.0160 MNT

YEARLY LOW

2.0027 MNT

YEARLY AVERAGE

2.4070 MNT

2024 NGN to MNT Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to MNT exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 4.0160. Conversely, the yearly low was recorded on November 22, dropping to 2.0027.

This high-to-low spread represents a total annual volatility of 2.0133 MNT. From a start-to-finish perspective, comparing the January average rate of 3.7872 to the December average rate of 2.1638, the exchange rate registered a net change of -42.87% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 4.0160 was down 47.67% compared to the 2023 peak of 7.6741, 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 4,016,018 MNT

2023 Average 5,842,568 MNT

Yearly Trough Low 2,002,711 MNT

Transaction Impact: A difference of 2,013,306.36 MNT purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

3.9630

1.8539

JanuMarcMayJulySeptNove

NGN to MNT 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 2.6899, compared to 2.1240 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.5659 points.

H1 Avg (Jan–Jun) 2.6899

H2 Avg (Jul–Dec) 2.1240

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 1.6653 MNT (High: 3.8122 / Low: 2.1469). On the other end, October was the most stable month, with a tight range of 0.0642 MNT (High: 2.0980 / Low: 2.0338).

February Spread (Volatile) ±1.6653

October Spread (Stable) ±0.0642

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 1.1568 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -1.1568

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 3.7872) against the same month in 2023 (average: 7.4950), the exchange rate shifted by -3.7078 (-49.47%).

2024 Avg (January) 3.7872

2023 Avg (January) 7.4950

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	4.0160	3.6011	3.7872
February	3.8122	2.1469	2.6304
March	2.4731	2.1414	2.2631
April	2.8722	2.4279	2.7020
May	2.7935	2.2788	2.4435
June	2.4538	2.2725	2.3132
July	2.4538	2.0452	2.2677
August	2.1571	2.0457	2.1286
September	2.1374	2.0354	2.0800
October	2.0980	2.0338	2.0743
November	2.0704	2.0027	2.0296
December	2.1991	2.0209	2.1638