2024 SRD to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 SRD to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the SRD to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on August 1, valuing the pair at 57.6240. Conversely, the yearly low was recorded on January 17, dropping to 23.3729.
This high-to-low spread represents a total annual volatility of 34.2511 NGN. From a start-to-finish perspective, comparing the January average rate of 24.8523 to the December average rate of 44.6148, the exchange rate registered a net change of 79.52% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 57.6240 was up 135.72% compared to the 2023 peak of 24.4462, 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 2024.
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 39.0679, compared to 50.7274 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 11.6595 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 20.5457 NGN (High: 45.2566 / Low: 24.7109). On the other end, November was the most stable month, with a tight range of 1.1613 NGN (High: 48.2532 / Low: 47.0919).
Growth Streaks & Declines
TrendsBetween April and August, 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 6.4278 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (August 2024: 55.4443) against the same month in 2023 (average: 20.0526), the exchange rate shifted by +35.3918 (+176.49%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 26.1376 | 23.3729 | 24.8523 |
| February | 45.2566 | 24.7109 | 38.1161 |
| March | 45.6020 | 39.6381 | 43.3751 |
| April | 40.4936 | 34.4643 | 36.9473 |
| May | 47.0617 | 36.5969 | 43.5232 |
| June | 49.5020 | 45.5924 | 47.5935 |
| July | 57.3270 | 46.5555 | 51.2632 |
| August | 57.6240 | 54.5217 | 55.4443 |
| September | 56.6924 | 53.3568 | 55.0212 |
| October | 54.3374 | 47.7930 | 50.4361 |
| November | 48.2532 | 47.0919 | 47.5847 |
| December | 47.4982 | 43.8624 | 44.6148 |