2024 NGN to NIO Historical Review

YEARLY HIGH

0.0427 NIO

YEARLY LOW

0.0217 NIO

YEARLY AVERAGE

0.0258 NIO

2024 NGN to NIO Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to NIO exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0427. Conversely, the yearly low was recorded on November 22, dropping to 0.0217.

This high-to-low spread represents a total annual volatility of 0.0210 NIO. From a start-to-finish perspective, comparing the January average rate of 0.0402 to the December average rate of 0.0234, the exchange rate registered a net change of -41.78% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0427 was down 47.72% compared to the 2023 peak of 0.0816, 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 42,665 NIO

2023 Average 61,682 NIO

Yearly Trough Low 21,660 NIO

Transaction Impact: A difference of 21,005.19 NIO purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0421

0.0202

JanuMarcMayJulySeptNove

NGN to NIO 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 0.0287, compared to 0.0230 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0057 points.

H1 Avg (Jan–Jun) 0.0287

H2 Avg (Jul–Dec) 0.0230

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0178 NIO (High: 0.0408 / Low: 0.0229). On the other end, October was the most stable month, with a tight range of 0.0007 NIO (High: 0.0227 / Low: 0.0220).

February Spread (Volatile) ±0.0178

October Spread (Stable) ±0.0007

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 0.0122 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0122

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0402) against the same month in 2023 (average: 0.0802), the exchange rate shifted by -0.0400 (-49.87%).

2024 Avg (January) 0.0402

2023 Avg (January) 0.0802

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0427	0.0382	0.0402
February	0.0408	0.0229	0.0280
March	0.0264	0.0229	0.0241
April	0.0306	0.0259	0.0288
May	0.0298	0.0243	0.0260
June	0.0262	0.0243	0.0247
July	0.0262	0.0222	0.0243
August	0.0234	0.0222	0.0230
September	0.0232	0.0220	0.0225
October	0.0227	0.0220	0.0225
November	0.0224	0.0217	0.0220
December	0.0238	0.0219	0.0234