2024 NGN to ZAR Historical Review

YEARLY HIGH

0.0222 ZAR

YEARLY LOW

0.0103 ZAR

YEARLY AVERAGE

0.0129 ZAR

2024 NGN to ZAR Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to ZAR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 0.0222. Conversely, the yearly low was recorded on September 29, dropping to 0.0103.

This high-to-low spread represents a total annual volatility of 0.0120 ZAR. From a start-to-finish perspective, comparing the January average rate of 0.0206 to the December average rate of 0.0116, the exchange rate registered a net change of -43.57% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 0.0222 was down 48.22% compared to the 2023 peak of 0.0429, 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 22,222 ZAR

2023 Average 31,038 ZAR

Yearly Trough Low 10,255 ZAR

Transaction Impact: A difference of 11,966.93 ZAR purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

0.0216

0.0097

JanuMarcMayJulySeptNove

NGN to ZAR 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 0.0146, compared to 0.0112 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0034 points.

H1 Avg (Jan–Jun) 0.0146

H2 Avg (Jul–Dec) 0.0112

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0093 ZAR (High: 0.0211 / Low: 0.0118). On the other end, October was the most stable month, with a tight range of 0.0005 ZAR (High: 0.0109 / Low: 0.0104).

February Spread (Volatile) ±0.0093

October Spread (Stable) ±0.0005

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 0.0061 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0061

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 0.0206) against the same month in 2023 (average: 0.0376), the exchange rate shifted by -0.0170 (-45.20%).

2024 Avg (January) 0.0206

2023 Avg (January) 0.0376

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.0222	0.0191	0.0206
February	0.0211	0.0118	0.0145
March	0.0136	0.0115	0.0124
April	0.0159	0.0133	0.0148
May	0.0150	0.0120	0.0130
June	0.0129	0.0119	0.0123
July	0.0130	0.0110	0.0120
August	0.0116	0.0110	0.0113
September	0.0113	0.0103	0.0108
October	0.0109	0.0104	0.0107
November	0.0109	0.0103	0.0107
December	0.0122	0.0108	0.0116