2024 PEN to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 PEN to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the PEN to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on October 1, valuing the pair at 450.0185. Conversely, the yearly low was recorded on January 17, dropping to 230.6719.
This high-to-low spread represents a total annual volatility of 219.3466 NGN. From a start-to-finish perspective, comparing the January average rate of 244.3890 to the December average rate of 421.0713, the exchange rate registered a net change of 72.30% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 450.0185 was up 85.35% compared to the 2023 peak of 242.7941, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 PEN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
PEN 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 355.6125, compared to 427.6304 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 72.0179 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 188.8605 NGN (High: 422.8737 / Low: 234.0132). On the other end, November was the most stable month, with a tight range of 14.5651 NGN (High: 449.9262 / Low: 435.3611).
Growth Streaks & Declines
TrendsBetween April and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 7 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 67.2958 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (October 2024: 436.7691) against the same month in 2023 (average: 203.8882), the exchange rate shifted by +232.8809 (+114.22%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 259.1143 | 230.6719 | 244.3890 |
| February | 422.8737 | 234.0132 | 359.3484 |
| March | 437.7660 | 375.2099 | 411.3925 |
| April | 382.1201 | 321.8610 | 344.0967 |
| May | 407.2230 | 328.7425 | 380.0459 |
| June | 401.0023 | 366.6309 | 394.4026 |
| July | 445.1953 | 370.4656 | 404.0784 |
| August | 444.3991 | 420.2348 | 427.4913 |
| September | 449.2474 | 421.6975 | 433.5191 |
| October | 450.0185 | 432.4482 | 436.7691 |
| November | 449.9262 | 435.3611 | 442.8531 |
| December | 449.4073 | 412.2743 | 421.0713 |