2023 NGN to MXN Historical Review

YEARLY HIGH

0.0436 MXN

YEARLY LOW

0.0189 MXN

YEARLY AVERAGE

0.0302 MXN

2023 NGN to MXN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to MXN exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 0.0436. Conversely, the yearly low was recorded on December 30, dropping to 0.0189.

This high-to-low spread represents a total annual volatility of 0.0247 MXN. From a start-to-finish perspective, comparing the January average rate of 0.0417 to the December average rate of 0.0212, the exchange rate registered a net change of -49.10% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0436 was down 15.21% compared to the 2022 peak of 0.0514, 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 43,603 MXN

2022 Average 47,508 MXN

Yearly Trough Low 18,893 MXN

Transaction Impact: A difference of 24,709.75 MXN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0438

0.0192

JanuMarcMayJulySeptNove

NGN to MXN 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 0.0384, compared to 0.0221 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0163 points.

H1 Avg (Jan–Jun) 0.0384

H2 Avg (Jul–Dec) 0.0221

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0172 MXN (High: 0.0381 / Low: 0.0209). On the other end, April was the most stable month, with a tight range of 0.0009 MXN (High: 0.0396 / Low: 0.0388).

June Spread (Volatile) ±0.0172

April Spread (Stable) ±0.0009

Growth Streaks & Declines

Trends

Between July and October, 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 June and July, when the average rate fell by 0.0087 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0087

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.0417) against the same month in 2022 (average: 0.0495), the exchange rate shifted by -0.0078 (-15.80%).

2023 Avg (January) 0.0417

2022 Avg (January) 0.0495

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0436	0.0407	0.0417
February	0.0417	0.0398	0.0404
March	0.0417	0.0390	0.0400
April	0.0396	0.0388	0.0392
May	0.0390	0.0378	0.0384
June	0.0381	0.0209	0.0304
July	0.0225	0.0211	0.0218
August	0.0228	0.0216	0.0221
September	0.0233	0.0217	0.0224
October	0.0241	0.0207	0.0231
November	0.0226	0.0209	0.0217
December	0.0222	0.0189	0.0212