2019 TOP to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2019.
2019 TOP to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2019
During 2019, the TOP to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on April 1, valuing the pair at 163.2992. Conversely, the yearly low was recorded on August 26, dropping to 132.0558.
This high-to-low spread represents a total annual volatility of 31.2434 NGN. From a start-to-finish perspective, comparing the January average rate of 160.2733 to the December average rate of 157.6707, the exchange rate registered a net change of -1.62% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2019 high of 163.2992 was down 0.29% compared to the 2018 peak of 163.7773, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 TOP based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2019.
TOP 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 157.9105, compared to 156.5028 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 1.4077 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2019 was August, with a trading range of 25.6253 NGN (High: 157.6811 / Low: 132.0558). On the other end, February was the most stable month, with a tight range of 1.6038 NGN (High: 160.8167 / Low: 159.2129).
Growth Streaks & Declines
TrendsBetween October and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between May and June, when the average rate fell by 5.2864 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (April 2019: 158.7048) against the same month in 2018 (average: 161.8202), the exchange rate shifted by -3.1154 (-1.93%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 161.6352 | 157.9600 | 160.2733 |
| February | 160.8167 | 159.2129 | 160.1196 |
| March | 160.0485 | 158.1519 | 159.1834 |
| April | 163.2992 | 156.7788 | 158.7048 |
| May | 158.5311 | 156.3801 | 157.2341 |
| June | 158.1580 | 134.1282 | 151.9476 |
| July | 159.6871 | 157.4034 | 158.2089 |
| August | 157.6811 | 132.0558 | 155.2263 |
| September | 157.6329 | 154.6524 | 155.9451 |
| October | 156.6298 | 154.9045 | 155.6347 |
| November | 157.9674 | 155.8405 | 156.3309 |
| December | 159.1815 | 156.0526 | 157.6707 |