2024 NGN to SOS Historical Review

YEARLY HIGH

0.6650 SOS

YEARLY LOW

0.3368 SOS

YEARLY AVERAGE

0.4010 SOS

2024 NGN to SOS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to SOS exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.6650. Conversely, the yearly low was recorded on November 22, dropping to 0.3368.

This high-to-low spread represents a total annual volatility of 0.3282 SOS. From a start-to-finish perspective, comparing the January average rate of 0.6271 to the December average rate of 0.3638, the exchange rate registered a net change of -41.98% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.6650 was down 47.73% compared to the 2023 peak of 1.2722, 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 665,004 SOS

2023 Average 960,641 SOS

Yearly Trough Low 336,830 SOS

Transaction Impact: A difference of 328,174.13 SOS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.6556

0.3129

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 0.4455, compared to 0.3564 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0891 points.

H1 Avg (Jan–Jun) 0.4455

H2 Avg (Jul–Dec) 0.3564

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.2816 SOS (High: 0.6373 / Low: 0.3556). On the other end, October was the most stable month, with a tight range of 0.0108 SOS (High: 0.3527 / Low: 0.3419).

February Spread (Volatile) ±0.2816

October Spread (Stable) ±0.0108

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 0.1911 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.1911

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.6271) against the same month in 2023 (average: 1.2511), the exchange rate shifted by -0.6240 (-49.88%).

2024 Avg (January) 0.6271

2023 Avg (January) 1.2511

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.6650	0.5959	0.6271
February	0.6373	0.3556	0.4360
March	0.4097	0.3547	0.3747
April	0.4757	0.4021	0.4475
May	0.4626	0.3774	0.4045
June	0.4065	0.3764	0.3831
July	0.4068	0.3438	0.3771
August	0.3628	0.3437	0.3574
September	0.3595	0.3422	0.3498
October	0.3527	0.3419	0.3490
November	0.3478	0.3368	0.3414
December	0.3693	0.3394	0.3638