2023 GEL to UGX Historical Review

YEARLY HIGH

1502.9095 UGX

YEARLY LOW

1364.7941 UGX

YEARLY AVERAGE

1419.7307 UGX

2023 GEL to UGX Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the GEL to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on May 2, valuing the pair at 1502.9095. Conversely, the yearly low was recorded on January 14, dropping to 1364.7941.

This high-to-low spread represents a total annual volatility of 138.1153 UGX. From a start-to-finish perspective, comparing the January average rate of 1385.1364 to the December average rate of 1408.1246, the exchange rate registered a net change of 1.66% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2023 high of 1502.9095 was up 4.43% compared to the 2022 peak of 1439.1156, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 7,514,547 UGX

2022 Average 6,357,134 UGX

Yearly Trough Low 6,823,971 UGX

Transaction Impact: A difference of 690,576.72 UGX purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

1494.5662

1375.1882

JanuMarcMayJulySeptNove

GEL 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 1433.0967, compared to 1406.3647 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 26.7320 points.

H1 Avg (Jan–Jun) 1433.0967

H2 Avg (Jul–Dec) 1406.3647

Volatility Range Comparison

Volatility

The most volatile month in 2023 was March, with a trading range of 70.2770 UGX (High: 1484.6309 / Low: 1414.3539). On the other end, October was the most stable month, with a tight range of 14.4325 UGX (High: 1404.6169 / Low: 1390.1844).

March Spread (Volatile) ±70.2770

October Spread (Stable) ±14.4325

Growth Streaks & Declines

Trends

Between January and April, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between May and June, when the average rate fell by 47.4139 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -47.4139

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (May 2023: 1466.0819) against the same month in 2022 (average: 1223.0698), the exchange rate shifted by +243.0120 (+19.87%).

2023 Avg (May) 1466.0819

2022 Avg (May) 1223.0698

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1402.2499	1364.7941	1385.1364
February	1416.0465	1372.2205	1395.2266
March	1484.6309	1414.3539	1448.8491
April	1500.6312	1464.4693	1484.6181
May	1502.9095	1440.9355	1466.0819
June	1439.4015	1391.3567	1418.6680
July	1429.5773	1390.2579	1415.6290
August	1437.2824	1375.9789	1406.9417
September	1432.7858	1391.0757	1412.8643
October	1404.6169	1390.1844	1396.3209
November	1411.3678	1386.7923	1398.3077
December	1425.5698	1397.2647	1408.1246