2023 BMD to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 BMD to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the BMD to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on November 30, valuing the pair at 3817.7499. Conversely, the yearly low was recorded on August 6, dropping to 3584.4250.
This high-to-low spread represents a total annual volatility of 233.3249 UGX. From a start-to-finish perspective, comparing the January average rate of 3691.8028 to the December average rate of 3781.6803, the exchange rate registered a net change of 2.43% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 3817.7499 was down 2.11% compared to the 2022 peak of 3900.0032, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 BMD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
BMD 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 3714.9247, compared to 3732.1594 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 17.2347 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was August, with a trading range of 160.0550 UGX (High: 3744.4800 / Low: 3584.4250). On the other end, December was the most stable month, with a tight range of 47.6294 UGX (High: 3806.2714 / Low: 3758.6421).
Growth Streaks & Declines
TrendsBetween July and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 43.4566 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2023: 3777.7980) against the same month in 2022 (average: 3753.9644), the exchange rate shifted by +23.8336 (+0.63%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 3731.8175 | 3657.6482 | 3691.8028 |
| February | 3724.2023 | 3649.2584 | 3686.9142 |
| March | 3789.1905 | 3694.6161 | 3736.8916 |
| April | 3782.3702 | 3714.7248 | 3742.9249 |
| May | 3778.8758 | 3710.4090 | 3726.4672 |
| June | 3754.2730 | 3652.3113 | 3704.5474 |
| July | 3696.9545 | 3600.7680 | 3661.0908 |
| August | 3744.4800 | 3584.4250 | 3680.8175 |
| September | 3769.2342 | 3715.0944 | 3738.8694 |
| October | 3784.0225 | 3728.3569 | 3752.7001 |
| November | 3817.7499 | 3751.2733 | 3777.7980 |
| December | 3806.2714 | 3758.6421 | 3781.6803 |