2022 TOP to NGN Historical Review

YEARLY HIGH

191.3837 NGN

YEARLY LOW

175.6369 NGN

YEARLY AVERAGE

181.7927 NGN

2022 TOP to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2022

During 2022, the TOP to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on December 30, valuing the pair at 191.3837. Conversely, the yearly low was recorded on July 17, dropping to 175.6369.

This high-to-low spread represents a total annual volatility of 15.7468 NGN. From a start-to-finish perspective, comparing the January average rate of 181.8264 to the December average rate of 189.8048, the exchange rate registered a net change of 4.39% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2022 high of 191.3837 was up 2.98% compared to the 2021 peak of 185.8474, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 956,919 NGN

2021 Average 890,386 NGN

Yearly Trough Low 878,185 NGN

Transaction Impact: A difference of 78,733.85 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2022.

190.9731

176.9540

JanuMarcMayJulySeptNove

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)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 181.6526, compared to 181.9328 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.2802 points.

H1 Avg (Jan–Jun) 181.6526

H2 Avg (Jul–Dec) 181.9328

Volatility Range Comparison

Volatility

The most volatile month in 2022 was November, with a trading range of 8.7966 NGN (High: 188.1717 / Low: 179.3752). On the other end, December was the most stable month, with a tight range of 2.6208 NGN (High: 191.3837 / Low: 188.7629).

November Spread (Volatile) ±8.7966

December Spread (Stable) ±2.6208

Growth Streaks & Declines

Trends

Between January and March, 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 April and May, when the average rate fell by 4.3824 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -4.3824

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2022: 189.8048) against the same month in 2021 (average: 179.9885), the exchange rate shifted by +9.8163 (+5.45%).

2022 Avg (December) 189.8048

2021 Avg (December) 179.9885

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	183.1117	179.8928	181.8264
February	184.6643	181.7886	183.5445
March	185.4200	182.3407	183.7962
April	185.3562	179.5668	183.1615
May	180.5820	176.8659	178.7791
June	180.8466	176.8257	178.8079
July	180.6231	175.6369	178.1222
August	182.7255	177.3529	180.0153
September	182.3379	177.1425	179.7044
October	181.8290	177.1388	178.8730
November	188.1717	179.3752	185.0769
December	191.3837	188.7629	189.8048