2023 NGN to SCR Historical Review

YEARLY HIGH

0.0309 SCR

YEARLY LOW

0.0150 SCR

YEARLY AVERAGE

0.0228 SCR

2023 NGN to SCR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to SCR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 26, valuing the pair at 0.0309. Conversely, the yearly low was recorded on December 30, dropping to 0.0150.

This high-to-low spread represents a total annual volatility of 0.0160 SCR. From a start-to-finish perspective, comparing the January average rate of 0.0298 to the December average rate of 0.0166, the exchange rate registered a net change of -44.23% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0309 was down 14.93% compared to the 2022 peak of 0.0364, 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 30,928 SCR

2022 Average 32,038 SCR

Yearly Trough Low 14,969 SCR

Transaction Impact: A difference of 15,959.96 SCR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0311

0.0153

JanuMarcMayJulySeptNove

NGN to SCR 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 0.0285, compared to 0.0170 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0116 points.

H1 Avg (Jan–Jun) 0.0285

H2 Avg (Jul–Dec) 0.0170

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0135 SCR (High: 0.0305 / Low: 0.0171). On the other end, August was the most stable month, with a tight range of 0.0009 SCR (High: 0.0180 / Low: 0.0171).

June Spread (Volatile) ±0.0135

August Spread (Stable) ±0.0009

Growth Streaks & Declines

Trends

No sustained consecutive month-over-month growth streak of 2+ months occurred in 2023. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.0070 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0070

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.0298) against the same month in 2022 (average: 0.0333), the exchange rate shifted by -0.0035 (-10.52%).

2023 Avg (January) 0.0298

2022 Avg (January) 0.0333

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0309	0.0285	0.0298
February	0.0308	0.0283	0.0295
March	0.0306	0.0283	0.0293
April	0.0305	0.0280	0.0293
May	0.0305	0.0284	0.0293
June	0.0305	0.0171	0.0242
July	0.0182	0.0165	0.0172
August	0.0180	0.0171	0.0174
September	0.0177	0.0164	0.0170
October	0.0180	0.0150	0.0171
November	0.0175	0.0159	0.0167
December	0.0183	0.0150	0.0166