2024 NGN to SGD Historical Review

YEARLY HIGH

0.0016 SGD

YEARLY LOW

0.0008 SGD

YEARLY AVERAGE

0.0009 SGD

2024 NGN to SGD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to SGD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0016. Conversely, the yearly low was recorded on September 28, dropping to 0.0008.

This high-to-low spread represents a total annual volatility of 0.0008 SGD. From a start-to-finish perspective, comparing the January average rate of 0.0015 to the December average rate of 0.0009, the exchange rate registered a net change of -41.33% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0016 was down 47.85% compared to the 2023 peak of 0.0030, 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 1,565 SGD

2023 Average 2,264 SGD

Yearly Trough Low 767 SGD

Transaction Impact: A difference of 797.80 SGD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0015

0.0007

JanuMarcMayJulySeptNove

NGN to SGD 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 0.0010, compared to 0.0008 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0002 points.

H1 Avg (Jan–Jun) 0.0010

H2 Avg (Jul–Dec) 0.0008

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0007 SGD (High: 0.0015 / Low: 0.0008). On the other end, November was the most stable month, with a tight range of 0.0000 SGD (High: 0.0008 / Low: 0.0008).

February Spread (Volatile) ±0.0007

November Spread (Stable) ±0.0000

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 0.0004 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0004

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0015) against the same month in 2023 (average: 0.0029), the exchange rate shifted by -0.0014 (-49.68%).

2024 Avg (January) 0.0015

2023 Avg (January) 0.0029

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0016	0.0014	0.0015
February	0.0015	0.0008	0.0010
March	0.0010	0.0008	0.0009
April	0.0011	0.0010	0.0011
May	0.0011	0.0009	0.0010
June	0.0010	0.0009	0.0009
July	0.0010	0.0008	0.0009
August	0.0008	0.0008	0.0008
September	0.0008	0.0008	0.0008
October	0.0008	0.0008	0.0008
November	0.0008	0.0008	0.0008
December	0.0009	0.0008	0.0009