2024 PGK to IRR Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 PGK to IRR Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the PGK to IRR exchange rate experienced significant fluctuation. The market reached its absolute peak on January 25, valuing the pair at 11366.0944. Conversely, the yearly low was recorded on November 14, dropping to 10392.2574.
This high-to-low spread represents a total annual volatility of 973.8369 IRR. From a start-to-finish perspective, comparing the January average rate of 11262.6835 to the December average rate of 10434.5039, the exchange rate registered a net change of -7.35% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2024 high of 11366.0944 was down 6.52% compared to the 2023 peak of 12159.0012, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 PGK based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
PGK to IRR 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 11029.5349, compared to 10610.8494 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 418.6854 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was August, with a trading range of 391.3041 IRR (High: 11024.2343 / Low: 10632.9302). On the other end, May was the most stable month, with a tight range of 114.9984 IRR (High: 10911.6384 / Low: 10796.6399).
Growth Streaks & Declines
TrendsNo sustained consecutive month-over-month growth streak of 2+ months occurred in 2024. Conversely, the sharpest month-over-month decline occurred between April and May, when the average rate fell by 156.7392 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2024: 11262.6835) against the same month in 2023 (average: 11903.5186), the exchange rate shifted by -640.8351 (-5.38%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 11366.0944 | 11104.8399 | 11262.6835 |
| February | 11296.1719 | 11027.6225 | 11143.0116 |
| March | 11271.2966 | 10976.7922 | 11068.2830 |
| April | 11141.4159 | 10873.3546 | 11009.8424 |
| May | 10911.6384 | 10796.6399 | 10853.1032 |
| June | 10990.0229 | 10750.3193 | 10840.2855 |
| July | 10958.6027 | 10718.0488 | 10798.9072 |
| August | 11024.2343 | 10632.9302 | 10722.1945 |
| September | 10810.6033 | 10544.2490 | 10634.0349 |
| October | 10720.5569 | 10496.5320 | 10606.5512 |
| November | 10565.2540 | 10392.2574 | 10468.9050 |
| December | 10592.8485 | 10393.3354 | 10434.5039 |