2023 CVE to UGX Historical Review

YEARLY HIGH

37.9723 UGX

YEARLY LOW

35.3657 UGX

YEARLY AVERAGE

36.4780 UGX

2023 CVE to UGX Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the CVE to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on December 29, valuing the pair at 37.9723. Conversely, the yearly low was recorded on February 19, dropping to 35.3657.

This high-to-low spread represents a total annual volatility of 2.6066 UGX. From a start-to-finish perspective, comparing the January average rate of 36.0246 to the December average rate of 37.3828, the exchange rate registered a net change of 3.77% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 37.9723 was up 2.50% compared to the 2022 peak of 37.0461, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 CVE based on timing:

Yearly Peak High 189,861 UGX

2022 Average 175,673 UGX

Yearly Trough Low 176,828 UGX

Transaction Impact: A difference of 13,032.88 UGX purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

37.5438

35.6126

JanuMarcMayJulySeptNove

CVE to UGX Seasonal Trends & Volatility Analysis

A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.

Seasonal Halves (H1 vs H2)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 36.3660, compared to 36.5900 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.2239 points.

H1 Avg (Jan–Jun) 36.3660

H2 Avg (Jul–Dec) 36.5900

Volatility Range Comparison

Volatility

The most volatile month in 2023 was March, with a trading range of 1.9122 UGX (High: 37.3247 / Low: 35.4125). On the other end, April was the most stable month, with a tight range of 0.7258 UGX (High: 37.6102 / Low: 36.8843).

March Spread (Volatile) ±1.9122

April Spread (Stable) ±0.7258

Growth Streaks & Declines

Trends

Between 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 0.5111 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.5111

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2023: 37.3828) against the same month in 2022 (average: 35.3352), the exchange rate shifted by +2.0477 (+5.79%).

2023 Avg (December) 37.3828

2022 Avg (December) 35.3352

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	36.3572	35.4216	36.0246
February	36.5149	35.3657	35.7735
March	37.3247	35.4125	36.2612
April	37.6102	36.8843	37.1703
May	37.1729	36.0890	36.6592
June	36.6658	35.5125	36.3074
July	37.4210	36.0122	36.6770
August	37.1925	35.7505	36.4026
September	36.5849	35.8525	36.2042
October	36.2070	35.4744	35.9184
November	37.7920	36.0168	36.9547
December	37.9723	36.5502	37.3828