2023 SRD to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 SRD to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the SRD to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 24.4462. Conversely, the yearly low was recorded on May 10, dropping to 12.1796.
This high-to-low spread represents a total annual volatility of 12.2665 NGN. From a start-to-finish perspective, comparing the January average rate of 14.2890 to the December average rate of 21.6891, the exchange rate registered a net change of 51.79% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 24.4462 was up 18.91% compared to the 2022 peak of 20.5582, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 SRD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
SRD 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 13.7343, compared to 20.6680 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 6.9337 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was June, with a trading range of 9.4519 NGN (High: 21.6402 / Low: 12.1884). On the other end, May was the most stable month, with a tight range of 0.2828 NGN (High: 12.4624 / Low: 12.1796).
Growth Streaks & Declines
TrendsBetween August and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.7509 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 21.6891) against the same month in 2022 (average: 14.0594), the exchange rate shifted by +7.6297 (+54.27%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 14.5154 | 14.0069 | 14.2890 |
| February | 14.3810 | 13.5787 | 14.0364 |
| March | 13.7311 | 12.7527 | 13.2953 |
| April | 12.9007 | 12.3104 | 12.5444 |
| May | 12.4624 | 12.1796 | 12.3540 |
| June | 21.6402 | 12.1884 | 15.8871 |
| July | 20.8481 | 19.6885 | 20.4527 |
| August | 20.2952 | 19.5707 | 20.0526 |
| September | 20.6078 | 19.4944 | 20.2109 |
| October | 23.2399 | 19.8807 | 20.5197 |
| November | 21.5834 | 20.4744 | 21.0833 |
| December | 24.4462 | 20.6924 | 21.6891 |