2023 NGN to MWK Historical Review

YEARLY HIGH

2.2947 MWK

YEARLY LOW

1.2363 MWK

YEARLY AVERAGE

1.8721 MWK

2023 NGN to MWK Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to MWK exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 2.2947. Conversely, the yearly low was recorded on June 23, dropping to 1.2363.

This high-to-low spread represents a total annual volatility of 1.0584 MWK. From a start-to-finish perspective, comparing the January average rate of 2.2509 to the December average rate of 2.0834, the exchange rate registered a net change of -7.44% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 2.2947 was down 7.36% compared to the 2022 peak of 2.4769, 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 2,294,691 MWK

2022 Average 2,200,809 MWK

Yearly Trough Low 1,236,330 MWK

Transaction Impact: A difference of 1,058,360.31 MWK purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

2.3406

1.2635

JanuMarcMayJulySeptNove

NGN to MWK 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 2.1606, compared to 1.5837 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.5768 points.

H1 Avg (Jan–Jun) 2.1606

H2 Avg (Jul–Dec) 1.5837

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.9890 MWK (High: 2.2254 / Low: 1.2363). On the other end, May was the most stable month, with a tight range of 0.0217 MWK (High: 2.2342 / Low: 2.2125).

June Spread (Volatile) ±0.9890

May Spread (Stable) ±0.0217

Growth Streaks & Declines

Trends

Between July and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.4529 points.

Longest Streak 5 Mo.

Sharpest MoM Drop -0.4529

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 2.2509) against the same month in 2022 (average: 1.9724), the exchange rate shifted by +0.2784 (+14.12%).

2023 Avg (January) 2.2509

2022 Avg (January) 1.9724

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.2947	2.2050	2.2509
February	2.2494	2.2088	2.2294
March	2.2778	2.2083	2.2336
April	2.2311	2.1989	2.2208
May	2.2342	2.2125	2.2225
June	2.2254	1.2363	1.8062
July	1.3849	1.3282	1.3532
August	1.4418	1.3496	1.4013
September	1.4761	1.3690	1.4013
October	1.5225	1.2909	1.4682
November	2.1311	1.3847	1.7949
December	2.2058	1.8741	2.0834