2024 PGK to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 PGK to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the PGK to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on February 20, valuing the pair at 431.1636. Conversely, the yearly low was recorded on January 17, dropping to 230.6034.
This high-to-low spread represents a total annual volatility of 200.5602 NGN. From a start-to-finish perspective, comparing the January average rate of 244.2212 to the December average rate of 388.6914, the exchange rate registered a net change of 59.16% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 431.1636 was up 78.54% compared to the 2023 peak of 241.4906, 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 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 349.1807, compared to 404.5157 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 55.3350 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 191.4384 NGN (High: 431.1636 / Low: 239.7252). On the other end, November was the most stable month, with a tight range of 13.3123 NGN (High: 423.1174 / Low: 409.8052).
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 67.7713 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (February 2024: 364.3415) against the same month in 2023 (average: 130.4511), the exchange rate shifted by +233.8904 (+179.29%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 258.0194 | 230.6034 | 244.2212 |
| February | 431.1636 | 239.7252 | 364.3415 |
| March | 424.2021 | 364.4977 | 402.3521 |
| April | 371.4141 | 313.7577 | 334.5808 |
| May | 389.9948 | 319.2462 | 365.5717 |
| June | 393.6324 | 365.0948 | 384.0170 |
| July | 423.1635 | 358.9256 | 389.9821 |
| August | 422.9327 | 399.0671 | 406.6475 |
| September | 419.9044 | 401.7681 | 412.6665 |
| October | 423.4181 | 406.6736 | 412.6911 |
| November | 423.1174 | 409.8052 | 416.4153 |
| December | 418.6978 | 381.1427 | 388.6914 |