2023 TRY to NGN Historical Review

YEARLY HIGH

32.5760 NGN

YEARLY LOW

19.5512 NGN

YEARLY AVERAGE

26.2880 NGN

2023 TRY to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the TRY to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on June 23, valuing the pair at 32.5760. Conversely, the yearly low was recorded on June 11, dropping to 19.5512.

This high-to-low spread represents a total annual volatility of 13.0248 NGN. From a start-to-finish perspective, comparing the January average rate of 24.2055 to the December average rate of 27.8341, the exchange rate registered a net change of 14.99% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 32.5760 was up 3.33% compared to the 2022 peak of 31.5256, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 50,000 TRY based on timing:

Yearly Peak High 1,628,800 NGN

2022 Average 1,293,489 NGN

Yearly Trough Low 977,561 NGN

Transaction Impact: A difference of 651,238.96 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

29.9554

22.7351

JanuMarcMayJulySeptNove

TRY 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 24.1817, compared to 28.3943 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 4.2126 points.

H1 Avg (Jan–Jun) 24.1817

H2 Avg (Jul–Dec) 28.3943

Volatility Range Comparison

Volatility

The most volatile month in 2023 was June, with a trading range of 13.0248 NGN (High: 32.5760 / Low: 19.5512). On the other end, February was the most stable month, with a tight range of 0.2704 NGN (High: 24.5723 / Low: 24.3020).

June Spread (Volatile) ±13.0248

February Spread (Stable) ±0.2704

Growth Streaks & Declines

Trends

Between May and July, 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 July and August, when the average rate fell by 0.8380 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.8380

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (June 2023: 25.0837) against the same month in 2022 (average: 24.5221), the exchange rate shifted by +0.5616 (+2.29%).

2023 Avg (June) 25.0837

2022 Avg (June) 24.5221

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	24.4977	23.8689	24.2055
February	24.5723	24.3020	24.4232
March	24.3834	23.8668	24.1944
April	24.1577	23.6542	23.8465
May	23.6760	22.2104	23.3368
June	32.5760	19.5512	25.0837
July	30.1386	28.2200	29.3537
August	29.3666	27.7460	28.5157
September	29.4156	27.6665	28.6584
October	31.4151	27.2875	28.0650
November	28.7068	27.3410	27.9392
December	30.4797	26.0097	27.8341