2024 NGN to TOP Historical Review

YEARLY HIGH

0.0028 TOP

YEARLY LOW

0.0014 TOP

YEARLY AVERAGE

0.0017 TOP

2024 NGN to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0028. Conversely, the yearly low was recorded on September 30, dropping to 0.0014.

This high-to-low spread represents a total annual volatility of 0.0014 TOP. From a start-to-finish perspective, comparing the January average rate of 0.0026 to the December average rate of 0.0015, the exchange rate registered a net change of -41.03% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0028 was down 47.47% compared to the 2023 peak of 0.0052, 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 2,750 TOP

2023 Average 3,982 TOP

Yearly Trough Low 1,398 TOP

Transaction Impact: A difference of 1,352.46 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0027

0.0013

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 0.0018, compared to 0.0015 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0004 points.

H1 Avg (Jan–Jun) 0.0018

H2 Avg (Jul–Dec) 0.0015

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0012 TOP (High: 0.0026 / Low: 0.0015). On the other end, November was the most stable month, with a tight range of 0.0000 TOP (High: 0.0015 / Low: 0.0014).

February Spread (Volatile) ±0.0012

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 0.0008 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0008

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0026) against the same month in 2023 (average: 0.0051), the exchange rate shifted by -0.0025 (-49.55%).

2024 Avg (January) 0.0026

2023 Avg (January) 0.0051

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0028	0.0024	0.0026
February	0.0026	0.0015	0.0018
March	0.0017	0.0015	0.0016
April	0.0020	0.0017	0.0019
May	0.0019	0.0016	0.0017
June	0.0017	0.0016	0.0016
July	0.0017	0.0014	0.0016
August	0.0015	0.0014	0.0015
September	0.0015	0.0014	0.0014
October	0.0015	0.0014	0.0014
November	0.0015	0.0014	0.0014
December	0.0015	0.0014	0.0015