2023 SGD to NGN Historical Review

YEARLY HIGH

680.2498 NGN

YEARLY LOW

333.2522 NGN

YEARLY AVERAGE

471.6283 NGN

2023 SGD to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the SGD to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 680.2498. Conversely, the yearly low was recorded on January 5, dropping to 333.2522.

This high-to-low spread represents a total annual volatility of 346.9976 NGN. From a start-to-finish perspective, comparing the January average rate of 343.2247 to the December average rate of 608.5759, the exchange rate registered a net change of 77.31% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 680.2498 was up 103.52% compared to the 2022 peak of 334.2419, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 SGD based on timing:

Yearly Peak High 3,401,249 NGN

2022 Average 1,536,795 NGN

Yearly Trough Low 1,666,261 NGN

Transaction Impact: A difference of 1,734,988.02 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

635.1491

316.2713

JanuMarcMayJulySeptNove

SGD to NGN Seasonal Trends & Volatility Analysis

A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.

Seasonal Halves (H1 vs H2)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 361.1940, compared to 582.0626 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 220.8686 points.

H1 Avg (Jan–Jun) 361.1940

H2 Avg (Jul–Dec) 582.0626

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 267.2332 NGN (High: 608.7278 / Low: 341.4946). On the other end, April was the most stable month, with a tight range of 5.5256 NGN (High: 349.6766 / Low: 344.1510).

June Spread (Volatile) ±267.2332

April Spread (Stable) ±5.5256

Growth Streaks & Declines

Trends

Between September and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between July and August, when the average rate fell by 14.0233 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -14.0233

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 608.5759) against the same month in 2022 (average: 329.3874), the exchange rate shifted by +279.1885 (+84.76%).

2023 Avg (December) 608.5759

2022 Avg (December) 329.3874

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	350.3959	333.2522	343.2247
February	352.7669	340.0000	345.3536
March	346.6932	338.4028	342.8444
April	349.6766	344.1510	346.2978
May	348.2449	340.2437	344.2910
June	608.7278	341.4946	445.1526
July	597.4199	561.5887	582.0960
August	580.2376	556.7985	568.0726
September	578.3413	547.4523	567.7551
October	645.8996	555.3731	571.8330
November	613.1683	575.8974	594.0427
December	680.2498	576.9541	608.5759