2023 NGN to XAF Historical Review

YEARLY HIGH

1.3904 XAF

YEARLY LOW

0.6603 XAF

YEARLY AVERAGE

1.0255 XAF

2023 NGN to XAF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NGN to XAF exchange rate experienced significant fluctuation. The market reached its absolute peak on January 5, valuing the pair at 1.3904. Conversely, the yearly low was recorded on December 28, dropping to 0.6603.

This high-to-low spread represents a total annual volatility of 0.7300 XAF. From a start-to-finish perspective, comparing the January average rate of 1.3378 to the December average rate of 0.7429, the exchange rate registered a net change of -44.47% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 1.3904 was down 11.88% compared to the 2022 peak of 1.5778, 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 1,390,391 XAF

2022 Average 1,472,621 XAF

Yearly Trough Low 660,348 XAF

Transaction Impact: A difference of 730,043.80 XAF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

1.3973

0.6834

JanuMarcMayJulySeptNove

NGN to XAF 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 1.2784, compared to 0.7726 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.5059 points.

H1 Avg (Jan–Jun) 1.2784

H2 Avg (Jul–Dec) 0.7726

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 0.5989 XAF (High: 1.3290 / Low: 0.7301). On the other end, August was the most stable month, with a tight range of 0.0337 XAF (High: 0.8037 / Low: 0.7699).

June Spread (Volatile) ±0.5989

August Spread (Stable) ±0.0337

Growth Streaks & Declines

Trends

Between July and October, 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 0.3046 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.3046

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 1.3378) against the same month in 2022 (average: 1.4004), the exchange rate shifted by -0.0625 (-4.47%).

2023 Avg (January) 1.3378

2022 Avg (January) 1.4004

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.3904	1.3109	1.3378
February	1.3506	1.2935	1.3315
March	1.3507	1.3066	1.3318
April	1.3188	1.2718	1.2942
May	1.3303	1.2679	1.3071
June	1.3290	0.7301	1.0682
July	0.7914	0.7396	0.7637
August	0.8037	0.7699	0.7835
September	0.8189	0.7759	0.7937
October	0.8191	0.7007	0.7944
November	0.7870	0.7298	0.7573
December	0.7787	0.6603	0.7429