2024 NGN to MVR Historical Review

YEARLY HIGH

0.0179 MVR

YEARLY LOW

0.0091 MVR

YEARLY AVERAGE

0.0108 MVR

2024 NGN to MVR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to MVR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0179. Conversely, the yearly low was recorded on November 22, dropping to 0.0091.

This high-to-low spread represents a total annual volatility of 0.0088 MVR. From a start-to-finish perspective, comparing the January average rate of 0.0169 to the December average rate of 0.0098, the exchange rate registered a net change of -41.97% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0179 was down 47.91% compared to the 2023 peak of 0.0344, 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 17,938 MVR

2023 Average 25,942 MVR

Yearly Trough Low 9,112 MVR

Transaction Impact: A difference of 8,826.41 MVR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0177

0.0085

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 0.0120, compared to 0.0096 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0024 points.

H1 Avg (Jan–Jun) 0.0120

H2 Avg (Jul–Dec) 0.0096

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0075 MVR (High: 0.0170 / Low: 0.0096). On the other end, November was the most stable month, with a tight range of 0.0003 MVR (High: 0.0094 / Low: 0.0091).

February Spread (Volatile) ±0.0075

November Spread (Stable) ±0.0003

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 0.0052 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0052

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0169) against the same month in 2023 (average: 0.0338), the exchange rate shifted by -0.0169 (-50.05%).

2024 Avg (January) 0.0169

2023 Avg (January) 0.0338

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0179	0.0161	0.0169
February	0.0170	0.0096	0.0117
March	0.0111	0.0096	0.0101
April	0.0129	0.0109	0.0121
May	0.0125	0.0102	0.0109
June	0.0109	0.0101	0.0103
July	0.0110	0.0092	0.0102
August	0.0098	0.0092	0.0096
September	0.0097	0.0092	0.0094
October	0.0095	0.0092	0.0094
November	0.0094	0.0091	0.0092
December	0.0100	0.0092	0.0098