2023 NGN to TRY Historical Review

YEARLY HIGH

0.0511 TRY

YEARLY LOW

0.0307 TRY

YEARLY AVERAGE

0.0384 TRY

2023 NGN to TRY Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to TRY exchange rate experienced significant fluctuation. The market reached its absolute peak on June 11, valuing the pair at 0.0511. Conversely, the yearly low was recorded on June 23, dropping to 0.0307.

This high-to-low spread represents a total annual volatility of 0.0205 TRY. From a start-to-finish perspective, comparing the January average rate of 0.0413 to the December average rate of 0.0360, the exchange rate registered a net change of -12.90% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0511 was up 18.17% compared to the 2022 peak of 0.0433, 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 51,148 TRY

2022 Average 39,065 TRY

Yearly Trough Low 30,697 TRY

Transaction Impact: A difference of 20,450.26 TRY purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0437

0.0332

JanuMarcMayJulySeptNove

NGN to TRY 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 0.0416, compared to 0.0353 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0064 points.

H1 Avg (Jan–Jun) 0.0416

H2 Avg (Jul–Dec) 0.0353

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0205 TRY (High: 0.0511 / Low: 0.0307). On the other end, February was the most stable month, with a tight range of 0.0005 TRY (High: 0.0411 / Low: 0.0407).

June Spread (Volatile) ±0.0205

February Spread (Stable) ±0.0005

Growth Streaks & Declines

Trends

Between February and May, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.0072 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0072

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (June 2023: 0.0413) against the same month in 2022 (average: 0.0408), the exchange rate shifted by +0.0005 (+1.28%).

2023 Avg (June) 0.0413

2022 Avg (June) 0.0408

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0419	0.0408	0.0413
February	0.0411	0.0407	0.0409
March	0.0419	0.0410	0.0413
April	0.0423	0.0414	0.0419
May	0.0450	0.0422	0.0429
June	0.0511	0.0307	0.0413
July	0.0354	0.0332	0.0341
August	0.0360	0.0341	0.0351
September	0.0361	0.0340	0.0349
October	0.0366	0.0318	0.0357
November	0.0366	0.0348	0.0358
December	0.0384	0.0328	0.0360