2024 NGN to XOF Historical Review

YEARLY HIGH

0.7015 XOF

YEARLY LOW

0.3519 XOF

YEARLY AVERAGE

0.4254 XOF

2024 NGN to XOF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to XOF exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.7015. Conversely, the yearly low was recorded on September 28, dropping to 0.3519.

This high-to-low spread represents a total annual volatility of 0.3495 XOF. From a start-to-finish perspective, comparing the January average rate of 0.6600 to the December average rate of 0.3989, the exchange rate registered a net change of -39.56% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.7015 was down 49.55% compared to the 2023 peak of 1.3904, 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 701,458 XOF

2023 Average 1,023,505 XOF

Yearly Trough Low 351,917 XOF

Transaction Impact: A difference of 349,540.69 XOF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.6899

0.3316

JanuMarcMayJulySeptNove

NGN to XOF 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 0.4728, compared to 0.3780 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0948 points.

H1 Avg (Jan–Jun) 0.4728

H2 Avg (Jul–Dec) 0.3780

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.2980 XOF (High: 0.6748 / Low: 0.3768). On the other end, November was the most stable month, with a tight range of 0.0126 XOF (High: 0.3737 / Low: 0.3610).

February Spread (Volatile) ±0.2980

November Spread (Stable) ±0.0126

Growth Streaks & Declines

Trends

Between September and December, 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 January and February, when the average rate fell by 0.1966 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.1966

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.6600) against the same month in 2023 (average: 1.3378), the exchange rate shifted by -0.6778 (-50.67%).

2024 Avg (January) 0.6600

2023 Avg (January) 1.3378

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.7015	0.6248	0.6600
February	0.6748	0.3768	0.4634
March	0.4356	0.3722	0.3959
April	0.5142	0.4299	0.4792
May	0.4950	0.3982	0.4297
June	0.4352	0.4020	0.4087
July	0.4314	0.3636	0.3990
August	0.3796	0.3661	0.3727
September	0.3734	0.3519	0.3614
October	0.3706	0.3554	0.3675
November	0.3737	0.3610	0.3687
December	0.4091	0.3700	0.3989