2024 NGN to NOK Historical Review

YEARLY HIGH

0.0122 NOK

YEARLY LOW

0.0063 NOK

YEARLY AVERAGE

0.0075 NOK

2024 NGN to NOK Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to NOK exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0122. Conversely, the yearly low was recorded on September 29, dropping to 0.0063.

This high-to-low spread represents a total annual volatility of 0.0059 NOK. From a start-to-finish perspective, comparing the January average rate of 0.0114 to the December average rate of 0.0072, the exchange rate registered a net change of -37.35% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0122 was down 49.52% compared to the 2023 peak of 0.0242, 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 12,230 NOK

2023 Average 17,781 NOK

Yearly Trough Low 6,290 NOK

Transaction Impact: A difference of 5,939.82 NOK purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0119

0.0060

JanuMarcMayJulySeptNove

NGN to NOK 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 0.0083, compared to 0.0068 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0015 points.

H1 Avg (Jan–Jun) 0.0083

H2 Avg (Jul–Dec) 0.0068

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0053 NOK (High: 0.0118 / Low: 0.0065). On the other end, November was the most stable month, with a tight range of 0.0003 NOK (High: 0.0067 / Low: 0.0065).

February Spread (Volatile) ±0.0053

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 0.0034 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0034

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0114) against the same month in 2023 (average: 0.0218), the exchange rate shifted by -0.0104 (-47.71%).

2024 Avg (January) 0.0114

2023 Avg (January) 0.0218

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0122	0.0108	0.0114
February	0.0118	0.0065	0.0080
March	0.0078	0.0065	0.0070
April	0.0091	0.0077	0.0085
May	0.0089	0.0070	0.0076
June	0.0076	0.0070	0.0071
July	0.0077	0.0066	0.0071
August	0.0069	0.0066	0.0067
September	0.0067	0.0063	0.0065
October	0.0067	0.0063	0.0066
November	0.0067	0.0065	0.0066
December	0.0074	0.0066	0.0072