UAE Dirham (AED) To Naira (NGN) Lowest Exchange Rate

| November 7, 2018

This report analyzes the lowest exchange rate of UAE Dirham (AED) - Naira (NGN). The sections include the comparison to other similar currency pairs and losses during the lowest rate date. Additionally, you will find a section that analyzes how low other stronger currencies against AED have gone.

The time range of analysis of this report is between 2014-12-01 and 2018-10-01. We will update this report regularly once in about 2 to 3 months.

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Below is a table of contents to help you navigate through the report.

  1. AED/NGN Lowest Exchange Rate
  2. 1-Week, 1-Month and 1-Year Losses During AED/NGN Lowest Rate
  3. Loss At Lowest Rate If You Had Bought UAE Dirham (AED) At Previous Highest Rate
  4. AED/NGN Lowest Rate Compared To 3 Strongest Currencies
  5. AED/NGN Lowest Rate Compared To 3 Similar Currencies To Naira (NGN)
  6. AED to NGN - Top 10 Monthly & Weekly Highest Rates

Recommended Reading: AED/NGN highest rate report will help you look at the best performance of the currency pair in detail (for the same timeframe of analysis as this report).

1 AED/NGN Lowest Exchange Rate

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The lowest rate for AED/NGN pair was 48.5346. The corresponding date was 2014-12-15. We will not just stop with mentioning the rate. Rather we will be using a common sense approach to assess the magnitude of the rate drop. The method is explained in the next paragraph.

We will begin by finding the year of occurrence of the lowest exchange rate. For that year, we will be computing the annual and monthly average rates. We will then compare both the averages against the lowest rate.

Below table lists the computed average rates as well as the difference between the lowest rate and the averages.

Duration Average Rate Lowest Rate Vs Averages
Year (2014)49.1532-1.26 %
Month (12-2014)68.3922-29.03 %

Below is a visual representation of the table you just saw. The below graph compares the average rates against the lowest rate of UAE Dirham (AED) - Naira (NGN).

UAE Dirham (AED) - Naira (NGN) Lowest Rate
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2 1-Week, 1-Month and 1-Year Losses During AED/NGN Lowest Rate

Someone who invested in Naira (NGN) using UAE Dirham (AED) before the lowest rate day is bound to lose if he sold on that day. This section compares the losses one could have made by investing 1 week, 1 month and 1 year before the lowest exchange rate day.

Note: In case you see NA (Not Applicable) values in the below table that denotes a lack of data for the corresponding time range. For example, assume that the lowest rate was during the first week of the range of data used for this report. Then we will not be able to compute the value for someone who invested 1 year before.

Below table and graph represent the losses by investing in AED/NGN pair (subject to data availability) for 1 week, 1 month and 1 year before 2014-12-15.

Days Before Lowest CloseClose (Rate)Losses(%)
1 Week 2014-12-0848.8724-0.69 %
1 Month NANANA
1 Year NANANA
UAE Dirham (AED)-Naira (NGN) Stock Losses - Week, Month, Year

Subject to data availability, below table summarizes the impact on a 1000 NGN invested in AED 1 week, 1 month and 1 year before the lowest close rate date.

Days Before Lowest RateLosses(%)What happens to 1000 NGN invested?
1 Week -0.69 %993.1

3 Loss At Lowest Rate If You Had Bought AED At Previous Highest Rate

Buying at high and selling when low is worst case scenario for any Forex investor. This section helps you assess the potential damage for an investor who invested in AED/NGN during the highest rate day that occurred before the lowest rate day of 2014-12-15.

Previous Highest Rate DateClose (Rate)Lowest Close RateLosses(%)
2014-12-0950.00248.5346-2.93 %

Above table has shown the losses in percentage. Now let us check the impact on a 1000 NGN invested. As per the loss percentage shown in the above table, the 1000 NGN would have become 970.7.

4 AED/NGN Lowest Rate Compared To 3 Strongest Currencies

Now let us compare the lowest rate of AED/NGN pair with three others formed by 3 strongest currencies against AED. In other words, we will be analyzing 3 pairs with the strongest currencies as quote currencies (denoted after the slash symbol.)

To pick the strongest currencies we follow a simple method. We just check those pairs which have lowest average rates for the recent 12 month period ending 2018-10-01.

AED-NGN Lowest Rate Vs Strong Currencies

Now we are going to analyze the potential impact of the lowest rate on investments. There is no straightforward way to do it. However, we are going to do a simple analysis that will give you an idea of the potential losses. We are going to measure and compare the differences between the lowest rates and the average rates for the recent 12 month period between 2017-10-01 and 2018-10-01.

Recommended Reading: Have a look at the similar section in the AED/NGN highest rate report to learn more in detail about this method.

CurrencyPairLowest RateAvg RateLowest Vs Avg. Rates (%)Difference (%)
NairaAED/NGN95.65599897.178843-1.57-
Kuwaiti DinarAED/KWD0.0815000.082265-0.930.64
Bahraini DinarAED/BHD0.1022000.102476-0.271.3
Rial OmaniAED/OMR0.1040000.104258-0.251.32

5 AED/NGN Lowest Rate Compared To 3 Similar Currencies To AED

In this section we are going to compare the performance ofAED/NGN against similar rate pairs but with AED as the base currency. In other words, the currency invested in will be the same in all the pairs under consideration. The range of observation is between 2014-12-01 and 2018-10-01

Below chart displays the lowest rates of NGN as well as 3 other similar currencies against AED.

AED to NGN Lowest Rate Alossest Similar Currencies

Below table lists the lowest rates of the currency pairs and a simple comparison. The final column shows the percentage difference between the lowest rates.

Note: A negative difference (last column value) for a currency pair indicates that the pair had lesser magnitude lowest rate than AED/AED.

CurrencyPairLowest RateDifference (%)
NairaAED/NGN47.174099-
ForintAED/HUF66.66030141.31
Yemeni RialAED/YER57.78889822.5
TengeAED/KZT49.1595994.21

6 AED to NGN - Top 10 Monthly & Weekly Lowest Rates

This sections displays the monthly and weekly average lowest rates for the currency pair - AED/NGN.

Top 10 Month-wise Highest Avg. Rates:

Month-YearAvg. Rate
December-201449.386322
January-201550.445359
February-201553.875712
May-201654.009862
March-201654.011200
September-201554.017992
December-201554.022569
January-201654.023601
April-201654.030800
November-201554.039585

Top 10 Weekly Highest Avg. Rates:

Week-YearAvg. Rate
Week 48-201448.898250
Week 49-201449.066567
Week 1-201549.478567
Week 50-201449.577617
Week 52-201449.695801
Week 2-201549.789700
Week 51-201449.796534
Week 0-201549.843435
Week 3-201551.018799
Week 4-201551.795333

Conclusion:

Hopefully, the report will help you in your forex investing

Disclaimer:

We have validated the data to the best of our knowledge. If you find data inaccuracies kindly let us know using the contact form so that we can act promptly.

Lowest Rate History Reports of Similar Currency Pairs:

Currency CodesCurrency Names
AED-KZTUAE Dirham Vs Tenge
AED-ZWLUAE Dirham Vs Zimbabwe Dollar
AED-HUFUAE Dirham Vs Forint
AED-YERUAE Dirham Vs Yemeni Rial
AED-SYPUAE Dirham Vs Syrian Pound
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