2024 NGN to MXN Historical Review

YEARLY HIGH

0.0200 MXN

YEARLY LOW

0.0104 MXN

YEARLY AVERAGE

0.0128 MXN

2024 NGN to MXN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to MXN exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0200. Conversely, the yearly low was recorded on March 13, dropping to 0.0104.

This high-to-low spread represents a total annual volatility of 0.0097 MXN. From a start-to-finish perspective, comparing the January average rate of 0.0187 to the December average rate of 0.0129, the exchange rate registered a net change of -31.13% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0200 was down 54.06% compared to the 2023 peak of 0.0436, 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 20,031 MXN

2023 Average 30,149 MXN

Yearly Trough Low 10,362 MXN

Transaction Impact: A difference of 9,668.96 MXN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0195

0.0102

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 0.0133, compared to 0.0122 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0012 points.

H1 Avg (Jan–Jun) 0.0133

H2 Avg (Jul–Dec) 0.0122

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0083 MXN (High: 0.0190 / Low: 0.0106). On the other end, November was the most stable month, with a tight range of 0.0005 MXN (High: 0.0124 / Low: 0.0118).

February Spread (Volatile) ±0.0083

November Spread (Stable) ±0.0005

Growth Streaks & Declines

Trends

Between September and December, 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 January and February, when the average rate fell by 0.0057 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0057

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0187) against the same month in 2023 (average: 0.0417), the exchange rate shifted by -0.0230 (-55.12%).

2024 Avg (January) 0.0187

2023 Avg (January) 0.0417

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0200	0.0176	0.0187
February	0.0190	0.0106	0.0130
March	0.0119	0.0104	0.0110
April	0.0142	0.0117	0.0132
May	0.0138	0.0110	0.0119
June	0.0130	0.0114	0.0122
July	0.0128	0.0111	0.0119
August	0.0125	0.0114	0.0120
September	0.0125	0.0116	0.0120
October	0.0122	0.0116	0.0120
November	0.0124	0.0118	0.0121
December	0.0135	0.0121	0.0129