2024 NOK to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 NOK to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the NOK to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on September 29, valuing the pair at 158.9900. Conversely, the yearly low was recorded on January 17, dropping to 81.7693.
This high-to-low spread represents a total annual volatility of 77.2207 NGN. From a start-to-finish perspective, comparing the January average rate of 87.6875 to the December average rate of 139.9482, the exchange rate registered a net change of 59.60% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 158.9900 was up 80.22% compared to the 2023 peak of 88.2222, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 NOK based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
NOK to NGN 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 125.3439, compared to 147.8177 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 22.4737 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 68.5052 NGN (High: 153.1308 / Low: 84.6256). On the other end, November was the most stable month, with a tight range of 5.7531 NGN (High: 154.1019 / Low: 148.3488).
Growth Streaks & Declines
TrendsBetween April and September, 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 March and April, when the average rate fell by 26.8310 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (September 2024: 154.0371) against the same month in 2023 (average: 72.1478), the exchange rate shifted by +81.8893 (+113.50%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 93.0055 | 81.7693 | 87.6875 |
| February | 153.1308 | 84.6256 | 130.4472 |
| March | 153.5801 | 128.5969 | 144.0550 |
| April | 129.5839 | 109.4375 | 117.2240 |
| May | 142.0027 | 112.4558 | 132.1030 |
| June | 143.7474 | 131.6339 | 140.5467 |
| July | 152.3330 | 130.0123 | 140.7812 |
| August | 152.1883 | 144.9738 | 149.2492 |
| September | 158.9900 | 148.7873 | 154.0371 |
| October | 157.9939 | 149.3547 | 151.3499 |
| November | 154.1019 | 148.3488 | 151.5404 |
| December | 151.9873 | 135.5964 | 139.9482 |