2023 NGN to TOP Historical Review

YEARLY HIGH

0.0052 TOP

YEARLY LOW

0.0026 TOP

YEARLY AVERAGE

0.0040 TOP

2023 NGN to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 0.0052. Conversely, the yearly low was recorded on December 30, dropping to 0.0026.

This high-to-low spread represents a total annual volatility of 0.0026 TOP. From a start-to-finish perspective, comparing the January average rate of 0.0051 to the December average rate of 0.0029, the exchange rate registered a net change of -43.28% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0052 was down 8.04% compared to the 2022 peak of 0.0057, 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 5,236 TOP

2022 Average 5,503 TOP

Yearly Trough Low 2,595 TOP

Transaction Impact: A difference of 2,641.34 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0054

0.0027

JanuMarcMayJulySeptNove

NGN to TOP 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 0.0050, compared to 0.0030 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0019 points.

H1 Avg (Jan–Jun) 0.0050

H2 Avg (Jul–Dec) 0.0030

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0023 TOP (High: 0.0052 / Low: 0.0029). On the other end, April was the most stable month, with a tight range of 0.0001 TOP (High: 0.0051 / Low: 0.0050).

June Spread (Volatile) ±0.0023

April Spread (Stable) ±0.0001

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 0.0011 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0011

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.0051) against the same month in 2022 (average: 0.0055), the exchange rate shifted by -0.0004 (-6.82%).

2023 Avg (January) 0.0051

2022 Avg (January) 0.0055

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0052	0.0050	0.0051
February	0.0051	0.0050	0.0051
March	0.0052	0.0051	0.0051
April	0.0051	0.0050	0.0051
May	0.0052	0.0051	0.0051
June	0.0052	0.0029	0.0042
July	0.0031	0.0029	0.0030
August	0.0032	0.0030	0.0031
September	0.0032	0.0030	0.0031
October	0.0032	0.0027	0.0031
November	0.0031	0.0029	0.0030
December	0.0031	0.0026	0.0029