2023 NIO to MGA Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 NIO to MGA Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the NIO to MGA exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 125.9005. Conversely, the yearly low was recorded on January 28, dropping to 116.6543.
This high-to-low spread represents a total annual volatility of 9.2462 MGA. From a start-to-finish perspective, comparing the January average rate of 120.5837 to the December average rate of 124.9706, the exchange rate registered a net change of 3.64% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 125.9005 was up 2.29% compared to the 2022 peak of 123.0769, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 NIO based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
NIO to MGA Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 119.8696, compared to 123.6044 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 3.7348 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was January, with a trading range of 7.9938 MGA (High: 124.6481 / Low: 116.6543). On the other end, October was the most stable month, with a tight range of 0.9529 MGA (High: 124.1584 / Low: 123.2055).
Growth Streaks & Declines
TrendsBetween February and July, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 2.8001 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 124.9706) against the same month in 2022 (average: 121.2687), the exchange rate shifted by +3.7019 (+3.05%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 124.6481 | 116.6543 | 120.5837 |
| February | 118.4880 | 116.8789 | 117.7836 |
| March | 119.3937 | 117.5160 | 118.0894 |
| April | 120.8882 | 118.3595 | 119.8800 |
| May | 120.8219 | 119.6382 | 120.4457 |
| June | 124.2545 | 120.2183 | 122.4356 |
| July | 124.6525 | 121.0138 | 123.1917 |
| August | 123.8587 | 121.5690 | 123.0451 |
| September | 124.2910 | 122.3346 | 123.2870 |
| October | 124.1584 | 123.2055 | 123.7785 |
| November | 124.0572 | 122.3657 | 123.3538 |
| December | 125.9005 | 122.3990 | 124.9706 |