2024 SGD to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 SGD to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the SGD to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on September 27, valuing the pair at 1303.6097. Conversely, the yearly low was recorded on January 17, dropping to 639.0199.
This high-to-low spread represents a total annual volatility of 664.5898 NGN. From a start-to-finish perspective, comparing the January average rate of 682.5835 to the December average rate of 1163.1629, the exchange rate registered a net change of 70.41% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 1303.6097 was up 91.64% compared to the 2023 peak of 680.2498, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 SGD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
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)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 989.9390, compared to 1211.8587 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 221.9197 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 524.7508 NGN (High: 1196.5748 / Low: 671.8240). On the other end, November was the most stable month, with a tight range of 35.2198 NGN (High: 1272.9431 / Low: 1237.7234).
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 197.5315 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (September 2024: 1261.2878) against the same month in 2023 (average: 567.7551), the exchange rate shifted by +693.5327 (+122.15%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 718.4877 | 639.0199 | 682.5835 |
| February | 1196.5748 | 671.8240 | 1022.5360 |
| March | 1207.8739 | 1033.6373 | 1139.6008 |
| April | 1050.4140 | 880.1787 | 942.0693 |
| May | 1126.0348 | 912.2504 | 1049.7626 |
| June | 1120.7146 | 1036.5674 | 1103.0816 |
| July | 1243.3291 | 1040.9417 | 1130.0093 |
| August | 1242.5811 | 1191.9486 | 1213.6949 |
| September | 1303.6097 | 1216.3666 | 1261.2878 |
| October | 1294.7249 | 1239.5256 | 1249.9931 |
| November | 1272.9431 | 1237.7234 | 1253.0039 |
| December | 1253.5625 | 1133.3835 | 1163.1629 |