2023 BIF to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 BIF to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the BIF to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on March 29, valuing the pair at 1.8225. Conversely, the yearly low was recorded on August 6, dropping to 1.2650.
This high-to-low spread represents a total annual volatility of 0.5575 UGX. From a start-to-finish perspective, comparing the January average rate of 1.7844 to the December average rate of 1.3266, the exchange rate registered a net change of -25.66% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 1.8225 was down 4.13% compared to the 2022 peak of 1.9009, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 BIF based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
BIF 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 1.6774, compared to 1.3150 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.3623 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was May, with a trading range of 0.4736 UGX (High: 1.7939 / Low: 1.3203). On the other end, September was the most stable month, with a tight range of 0.0181 UGX (High: 1.3278 / Low: 1.3097).
Growth Streaks & Declines
TrendsBetween July and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between May and June, when the average rate fell by 0.2827 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (March 2023: 1.7998) against the same month in 2022 (average: 1.7745), the exchange rate shifted by +0.0254 (+1.43%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 1.8035 | 1.7699 | 1.7844 |
| February | 1.8029 | 1.7653 | 1.7784 |
| March | 1.8225 | 1.7811 | 1.7998 |
| April | 1.8169 | 1.7915 | 1.8001 |
| May | 1.7939 | 1.3203 | 1.5921 |
| June | 1.3292 | 1.2914 | 1.3094 |
| July | 1.3077 | 1.2754 | 1.2939 |
| August | 1.3177 | 1.2650 | 1.2988 |
| September | 1.3278 | 1.3097 | 1.3184 |
| October | 1.3328 | 1.3116 | 1.3222 |
| November | 1.3419 | 1.3219 | 1.3304 |
| December | 1.3371 | 1.3177 | 1.3266 |