2023 NGN to MVR Historical Review

YEARLY HIGH

0.0344 MVR

YEARLY LOW

0.0171 MVR

YEARLY AVERAGE

0.0260 MVR

2023 NGN to MVR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to MVR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 0.0344. Conversely, the yearly low was recorded on December 30, dropping to 0.0171.

This high-to-low spread represents a total annual volatility of 0.0173 MVR. From a start-to-finish perspective, comparing the January average rate of 0.0338 to the December average rate of 0.0190, the exchange rate registered a net change of -43.82% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0344 was down 9.86% compared to the 2022 peak of 0.0382, 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 34,440 MVR

2022 Average 36,429 MVR

Yearly Trough Low 17,144 MVR

Transaction Impact: A difference of 17,295.96 MVR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0353

0.0175

JanuMarcMayJulySeptNove

NGN to MVR 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 0.0324, compared to 0.0196 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0128 points.

H1 Avg (Jan–Jun) 0.0324

H2 Avg (Jul–Dec) 0.0196

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0146 MVR (High: 0.0333 / Low: 0.0187). On the other end, May was the most stable month, with a tight range of 0.0002 MVR (High: 0.0334 / Low: 0.0332).

June Spread (Volatile) ±0.0146

May Spread (Stable) ±0.0002

Growth Streaks & Declines

Trends

No sustained consecutive month-over-month growth streak of 2+ months occurred in 2023. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.0073 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0073

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.0338) against the same month in 2022 (average: 0.0373), the exchange rate shifted by -0.0035 (-9.36%).

2023 Avg (January) 0.0338

2022 Avg (January) 0.0373

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0344	0.0333	0.0338
February	0.0335	0.0332	0.0334
March	0.0339	0.0333	0.0334
April	0.0335	0.0330	0.0333
May	0.0334	0.0332	0.0333
June	0.0333	0.0187	0.0270
July	0.0202	0.0194	0.0198
August	0.0204	0.0197	0.0200
September	0.0206	0.0195	0.0199
October	0.0203	0.0174	0.0197
November	0.0197	0.0188	0.0192
December	0.0201	0.0171	0.0190