2023 NGN to USD Historical Review

YEARLY HIGH

0.0022 USD

YEARLY LOW

0.0011 USD

YEARLY AVERAGE

0.0017 USD

2023 NGN to USD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to USD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 0.0022. Conversely, the yearly low was recorded on December 30, dropping to 0.0011.

This high-to-low spread represents a total annual volatility of 0.0011 USD. From a start-to-finish perspective, comparing the January average rate of 0.0022 to the December average rate of 0.0012, the exchange rate registered a net change of -43.78% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.0022 was down 8.09% compared to the 2022 peak of 0.0024, 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 2,236 USD

2022 Average 2,362 USD

Yearly Trough Low 1,113 USD

Transaction Impact: A difference of 1,123.11 USD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.0023

0.0011

JanuMarcMayJulySeptNove

NGN to USD 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 0.0021, compared to 0.0013 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0008 points.

H1 Avg (Jan–Jun) 0.0021

H2 Avg (Jul–Dec) 0.0013

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.0010 USD (High: 0.0022 / Low: 0.0012). On the other end, May was the most stable month, with a tight range of 0.0000 USD (High: 0.0022 / Low: 0.0022).

June Spread (Volatile) ±0.0010

May Spread (Stable) ±0.0000

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 0.0005 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0005

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.0022) against the same month in 2022 (average: 0.0024), the exchange rate shifted by -0.0002 (-8.98%).

2023 Avg (January) 0.0022

2022 Avg (January) 0.0024

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0022	0.0022	0.0022
February	0.0022	0.0022	0.0022
March	0.0022	0.0022	0.0022
April	0.0022	0.0022	0.0022
May	0.0022	0.0022	0.0022
June	0.0022	0.0012	0.0018
July	0.0013	0.0013	0.0013
August	0.0013	0.0013	0.0013
September	0.0013	0.0013	0.0013
October	0.0013	0.0011	0.0013
November	0.0013	0.0012	0.0012
December	0.0013	0.0011	0.0012