2024 NGN to RWF Historical Review

YEARLY HIGH

1.4776 RWF

YEARLY LOW

0.7909 RWF

YEARLY AVERAGE

0.9216 RWF

2024 NGN to RWF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to RWF exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 1.4776. Conversely, the yearly low was recorded on July 31, dropping to 0.7909.

This high-to-low spread represents a total annual volatility of 0.6867 RWF. From a start-to-finish perspective, comparing the January average rate of 1.3948 to the December average rate of 0.8809, the exchange rate registered a net change of -36.84% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 1.4776 was down 40.21% compared to the 2023 peak of 2.4713, 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 1,477,605 RWF

2023 Average 1,931,308 RWF

Yearly Trough Low 790,912 RWF

Transaction Impact: A difference of 686,693.44 RWF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

1.4525

0.7601

JanuMarcMayJulySeptNove

NGN to RWF 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 1.0027, compared to 0.8405 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.1622 points.

H1 Avg (Jan–Jun) 1.0027

H2 Avg (Jul–Dec) 0.8405

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.6241 RWF (High: 1.4171 / Low: 0.7930). On the other end, November was the most stable month, with a tight range of 0.0260 RWF (High: 0.8321 / Low: 0.8061).

February Spread (Volatile) ±0.6241

November Spread (Stable) ±0.0260

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 0.4221 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.4221

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 1.3948) against the same month in 2023 (average: 2.3642), the exchange rate shifted by -0.9694 (-41.00%).

2024 Avg (January) 1.3948

2023 Avg (January) 2.3642

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.4776	1.3257	1.3948
February	1.4171	0.7930	0.9727
March	0.9225	0.7984	0.8421
April	1.0752	0.9056	1.0101
May	1.0490	0.8551	0.9192
June	0.9292	0.8612	0.8772
July	0.9374	0.7909	0.8670
August	0.8473	0.7914	0.8293
September	0.8437	0.7988	0.8221
October	0.8427	0.7995	0.8261
November	0.8321	0.8061	0.8178
December	0.9011	0.8181	0.8809