2024 NGN to TRY Historical Review

YEARLY HIGH

0.0351 TRY

YEARLY LOW

0.0192 TRY

YEARLY AVERAGE

0.0229 TRY

2024 NGN to TRY Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to TRY exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0351. Conversely, the yearly low was recorded on February 23, dropping to 0.0192.

This high-to-low spread represents a total annual volatility of 0.0159 TRY. From a start-to-finish perspective, comparing the January average rate of 0.0330 to the December average rate of 0.0223, the exchange rate registered a net change of -32.52% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0351 was down 31.40% compared to the 2023 peak of 0.0511, 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 35,089 TRY

2023 Average 38,414 TRY

Yearly Trough Low 19,178 TRY

Transaction Impact: A difference of 15,911.51 TRY purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0343

0.0193

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 0.0246, compared to 0.0212 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0033 points.

H1 Avg (Jan–Jun) 0.0246

H2 Avg (Jul–Dec) 0.0212

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0146 TRY (High: 0.0338 / Low: 0.0192). On the other end, November was the most stable month, with a tight range of 0.0006 TRY (High: 0.0209 / Low: 0.0204).

February Spread (Volatile) ±0.0146

November Spread (Stable) ±0.0006

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 0.0096 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0096

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0330) against the same month in 2023 (average: 0.0413), the exchange rate shifted by -0.0083 (-20.05%).

2024 Avg (January) 0.0330

2023 Avg (January) 0.0413

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0351	0.0314	0.0330
February	0.0338	0.0192	0.0235
March	0.0233	0.0198	0.0210
April	0.0271	0.0227	0.0253
May	0.0262	0.0213	0.0229
June	0.0233	0.0214	0.0219
July	0.0235	0.0199	0.0217
August	0.0216	0.0200	0.0211
September	0.0214	0.0205	0.0209
October	0.0212	0.0205	0.0209
November	0.0209	0.0204	0.0206
December	0.0228	0.0206	0.0223