2024 XDR to NGN Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 XDR to NGN Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the XDR to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on October 2, valuing the pair at 2264.8390. Conversely, the yearly low was recorded on January 17, dropping to 1147.8928.
This high-to-low spread represents a total annual volatility of 1116.9462 NGN. From a start-to-finish perspective, comparing the January average rate of 1217.5147 to the December average rate of 2061.0470, the exchange rate registered a net change of 69.28% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2024 high of 2264.8390 was up 88.22% compared to the 2023 peak of 1203.3215, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 XDR based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
XDR 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 1767.9844, compared to 2136.0066 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 368.0222 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 936.6547 NGN (High: 2128.3866 / Low: 1191.7319). On the other end, November was the most stable month, with a tight range of 63.3843 NGN (High: 2249.4677 / Low: 2186.0833).
Growth Streaks & Declines
TrendsBetween April and September, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 343.9175 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (October 2024: 2193.3103) against the same month in 2023 (average: 1027.9746), the exchange rate shifted by +1165.3356 (+113.36%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 1281.3577 | 1147.8928 | 1217.5147 |
| February | 2128.3866 | 1191.7319 | 1825.6103 |
| March | 2151.8210 | 1846.5884 | 2032.6032 |
| April | 1882.0669 | 1581.5937 | 1688.6857 |
| May | 1999.5166 | 1626.7445 | 1874.3134 |
| June | 1998.3948 | 1851.2764 | 1969.1790 |
| July | 2204.5553 | 1849.7955 | 2011.0703 |
| August | 2205.3505 | 2101.6226 | 2133.2447 |
| September | 2262.7365 | 2141.1286 | 2204.4177 |
| October | 2264.8390 | 2177.3645 | 2193.3103 |
| November | 2249.4677 | 2186.0833 | 2212.9494 |
| December | 2202.1999 | 2018.2576 | 2061.0470 |