2023 BGN to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 BGN to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the BGN to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on December 28, valuing the pair at 2143.3067. Conversely, the yearly low was recorded on February 19, dropping to 1993.9908.
This high-to-low spread represents a total annual volatility of 149.3158 UGX. From a start-to-finish perspective, comparing the January average rate of 2035.4607 to the December average rate of 2111.3937, the exchange rate registered a net change of 3.73% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 2143.3067 was up 3.49% compared to the 2022 peak of 2071.0722, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 BGN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
BGN 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 2053.8924, compared to 2065.3380 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 11.4456 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was March, with a trading range of 112.1319 UGX (High: 2108.8706 / Low: 1996.7388). On the other end, September was the most stable month, with a tight range of 36.7123 UGX (High: 2055.5435 / Low: 2018.8313).
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 29.6355 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 2111.3937) against the same month in 2022 (average: 1995.0158), the exchange rate shifted by +116.3778 (+5.83%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 2055.2134 | 2007.8432 | 2035.4607 |
| February | 2056.4054 | 1993.9908 | 2016.7308 |
| March | 2108.8706 | 1996.7388 | 2046.6933 |
| April | 2124.0632 | 2082.6423 | 2100.1703 |
| May | 2107.4758 | 2044.9225 | 2070.5348 |
| June | 2080.8583 | 2035.5246 | 2053.7646 |
| July | 2105.9824 | 2030.9897 | 2069.9635 |
| August | 2096.8551 | 2017.5851 | 2052.8478 |
| September | 2055.5435 | 2018.8313 | 2040.9571 |
| October | 2046.5238 | 2002.0284 | 2027.1784 |
| November | 2137.3514 | 2046.4487 | 2089.6874 |
| December | 2143.3067 | 2074.7458 | 2111.3937 |