2023 NGN to SLL Historical Review

YEARLY HIGH

39.5050 SLL

YEARLY LOW

21.4642 SLL

YEARLY AVERAGE

31.6713 SLL

2023 NGN to SLL Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to SLL exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 39.5050. Conversely, the yearly low was recorded on June 23, dropping to 21.4642.

This high-to-low spread represents a total annual volatility of 18.0409 SLL. From a start-to-finish perspective, comparing the January average rate of 38.8611 to the December average rate of 25.9355, the exchange rate registered a net change of -33.26% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 39.5050 was down 2.04% compared to the 2022 peak of 40.3292, 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 39,505,022 SLL

2022 Average 32,303,199 SLL

Yearly Trough Low 21,464,156 SLL

Transaction Impact: A difference of 18,040,866.78 SLL purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

40.4182

21.7338

JanuMarcMayJulySeptNove

NGN to SLL 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 37.2316, compared to 26.1110 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 11.1206 points.

H1 Avg (Jan–Jun) 37.2316

H2 Avg (Jul–Dec) 26.1110

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 16.8496 SLL (High: 38.3138 / Low: 21.4642). On the other end, May was the most stable month, with a tight range of 0.1846 SLL (High: 38.3734 / Low: 38.1889).

June Spread (Volatile) ±16.8496

May Spread (Stable) ±0.1846

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 7.8473 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -7.8473

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 38.8611) against the same month in 2022 (average: 27.4313), the exchange rate shifted by +11.4298 (+41.67%).

2023 Avg (January) 38.8611

2022 Avg (January) 27.4313

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	39.5050	38.3569	38.8611
February	38.5367	38.1714	38.3723
March	38.9125	38.3405	38.4274
April	38.5234	37.9892	38.2978
May	38.3734	38.1889	38.2927
June	38.3138	21.4642	31.1381
July	27.5769	22.2871	23.2908
August	27.9233	26.9531	27.3250
September	28.1501	26.5799	27.0959
October	27.6392	23.7315	26.8287
November	26.8465	25.4701	26.1902
December	27.4290	23.3439	25.9355