2024 GEL to UGX Historical Review

YEARLY HIGH

1490.7892 UGX

YEARLY LOW

1282.9358 UGX

YEARLY AVERAGE

1383.0291 UGX

2024 GEL to UGX Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the GEL to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on February 26, valuing the pair at 1490.7892. Conversely, the yearly low was recorded on December 3, dropping to 1282.9358.

This high-to-low spread represents a total annual volatility of 207.8534 UGX. From a start-to-finish perspective, comparing the January average rate of 1421.8257 to the December average rate of 1301.7863, the exchange rate registered a net change of -8.44% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 1490.7892 was down 0.81% compared to the 2023 peak of 1502.9095, 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 7,453,946 UGX

2023 Average 7,099,174 UGX

Yearly Trough Low 6,414,679 UGX

Transaction Impact: A difference of 1,039,267.10 UGX purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

1475.6476

1285.9807

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 1415.7445, compared to 1350.3137 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 65.4308 points.

H1 Avg (Jan–Jun) 1415.7445

H2 Avg (Jul–Dec) 1350.3137

Volatility Range Comparison

Volatility

The most volatile month in 2024 was May, with a trading range of 91.4306 UGX (High: 1423.8409 / Low: 1332.4103). On the other end, October was the most stable month, with a tight range of 19.0230 UGX (High: 1351.9833 / Low: 1332.9602).

May Spread (Volatile) ±91.4306

October Spread (Stable) ±19.0230

Growth Streaks & Declines

Trends

Between June and August, 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 May and June, when the average rate fell by 66.1950 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -66.1950

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (February 2024: 1459.8420) against the same month in 2023 (average: 1395.2266), the exchange rate shifted by +64.6154 (+4.63%).

2024 Avg (February) 1459.8420

2023 Avg (February) 1395.2266

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1437.1290	1403.7343	1421.8257
February	1490.7892	1428.9276	1459.8420
March	1483.7906	1429.2344	1456.1438
April	1445.0465	1415.3527	1427.7494
May	1423.8409	1332.4103	1397.5505
June	1371.9797	1291.2498	1331.3555
July	1381.5399	1321.2363	1354.9437
August	1392.2815	1364.8044	1380.1646
September	1387.0697	1348.8373	1373.2516
October	1351.9833	1332.9602	1346.1319
November	1357.5037	1309.6596	1345.6041
December	1311.5701	1282.9358	1301.7863