2023 BAM to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 BAM to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the BAM to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on December 28, valuing the pair at 2143.3673. Conversely, the yearly low was recorded on January 8, dropping to 1990.6141.
This high-to-low spread represents a total annual volatility of 152.7532 UGX. From a start-to-finish perspective, comparing the January average rate of 2031.2198 to the December average rate of 2110.6039, the exchange rate registered a net change of 3.91% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 2143.3673 was up 2.93% compared to the 2022 peak of 2082.3422, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 BAM based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
BAM to UGX 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 2053.5561, compared to 2065.7810 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 12.2249 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was March, with a trading range of 108.8169 UGX (High: 2105.5397 / Low: 1996.7227). On the other end, June was the most stable month, with a tight range of 38.8081 UGX (High: 2076.3913 / Low: 2037.5833).
Growth Streaks & Declines
TrendsBetween February and April, 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 27.8646 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 2110.6039) against the same month in 2022 (average: 1995.4736), the exchange rate shifted by +115.1303 (+5.77%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 2054.6313 | 1990.6141 | 2031.2198 |
| February | 2072.6838 | 1993.8230 | 2019.5492 |
| March | 2105.5397 | 1996.7227 | 2045.4837 |
| April | 2125.7106 | 2083.0445 | 2100.2112 |
| May | 2105.0176 | 2045.1620 | 2072.3466 |
| June | 2076.3913 | 2037.5833 | 2052.5262 |
| July | 2109.6353 | 2031.8985 | 2070.0582 |
| August | 2096.8551 | 2015.5898 | 2053.8231 |
| September | 2062.6004 | 2023.7290 | 2044.4648 |
| October | 2062.0870 | 2003.2547 | 2027.8650 |
| November | 2130.5847 | 2040.6973 | 2087.8711 |
| December | 2143.3673 | 2078.4239 | 2110.6039 |