2024 ZAR to NGN Historical Review

YEARLY HIGH

97.5125 NGN

YEARLY LOW

45.0004 NGN

YEARLY AVERAGE

80.4284 NGN

2024 ZAR to NGN Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the ZAR to NGN exchange rate experienced significant fluctuation. The market reached its absolute peak on September 29, valuing the pair at 97.5125. Conversely, the yearly low was recorded on January 17, dropping to 45.0004.

This high-to-low spread represents a total annual volatility of 52.5121 NGN. From a start-to-finish perspective, comparing the January average rate of 48.6391 to the December average rate of 86.1785, the exchange rate registered a net change of 77.18% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2024 high of 97.5125 was up 98.66% compared to the 2023 peak of 49.0849, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 4,875,625 NGN

2023 Average 1,717,206 NGN

Yearly Trough Low 2,250,020 NGN

Transaction Impact: A difference of 2,625,604.65 NGN purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

97.7008

44.1790

JanuMarcMayJulySeptNove

ZAR 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 71.2989, compared to 89.5579 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 18.2590 points.

H1 Avg (Jan–Jun) 71.2989

H2 Avg (Jul–Dec) 89.5579

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 37.3858 NGN (High: 84.8734 / Low: 47.4876). On the other end, October was the most stable month, with a tight range of 4.4888 NGN (High: 96.2732 / Low: 91.7844).

February Spread (Volatile) ±37.3858

October Spread (Stable) ±4.4888

Growth Streaks & Declines

Trends

Between April and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 7 straight months. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 13.3470 points.

Longest Streak 7 Mo.

Sharpest MoM Drop -13.3470

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (September 2024: 92.9044) against the same month in 2023 (average: 40.8139), the exchange rate shifted by +52.0906 (+127.63%).

2024 Avg (September) 92.9044

2023 Avg (September) 40.8139

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	52.3294	45.0004	48.6391
February	84.8734	47.4876	72.2587
March	86.6549	73.5200	81.0632
April	74.9690	63.0852	67.7162
May	83.2866	66.5790	77.0443
June	84.1231	77.2485	81.0717
July	91.2158	77.0417	83.3985
August	90.7977	86.0131	88.3939
September	97.5125	88.5132	92.9044
October	96.2732	91.7844	93.2316
November	96.8196	91.5451	93.2406
December	92.8984	81.9676	86.1785