2023 NGN to SOS Historical Review

YEARLY HIGH

1.2722 SOS

YEARLY LOW

0.6362 SOS

YEARLY AVERAGE

0.9624 SOS

2023 NGN to SOS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to SOS exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 1.2722. Conversely, the yearly low was recorded on December 28, dropping to 0.6362.

This high-to-low spread represents a total annual volatility of 0.6360 SOS. From a start-to-finish perspective, comparing the January average rate of 1.2511 to the December average rate of 0.7071, the exchange rate registered a net change of -43.48% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 1.2722 was down 10.26% compared to the 2022 peak of 1.4176, 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 1,272,236 SOS

2022 Average 1,359,436 SOS

Yearly Trough Low 636,212 SOS

Transaction Impact: A difference of 636,024.65 SOS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

1.3055

0.6527

JanuMarcMayJulySeptNove

NGN to SOS 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 1.1981, compared to 0.7268 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.4713 points.

H1 Avg (Jan–Jun) 1.1981

H2 Avg (Jul–Dec) 0.7268

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.5441 SOS (High: 1.2349 / Low: 0.6908). On the other end, March was the most stable month, with a tight range of 0.0084 SOS (High: 1.2420 / Low: 1.2336).

June Spread (Volatile) ±0.5441

March Spread (Stable) ±0.0084

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 0.2705 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.2705

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 1.2511) against the same month in 2022 (average: 1.4059), the exchange rate shifted by -0.1548 (-11.01%).

2023 Avg (January) 1.2511

2022 Avg (January) 1.4059

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.2722	1.2342	1.2511
February	1.2458	1.2234	1.2353
March	1.2420	1.2336	1.2356
April	1.2358	1.2142	1.2316
May	1.2361	1.2254	1.2325
June	1.2349	0.6908	1.0025
July	0.7487	0.7183	0.7321
August	0.7581	0.7320	0.7417
September	0.7662	0.7213	0.7367
October	0.7506	0.6468	0.7304
November	0.7257	0.6908	0.7126
December	0.7488	0.6362	0.7071