2023 GHS to UGX Historical Review

YEARLY HIGH

445.6822 UGX

YEARLY LOW

287.8399 UGX

YEARLY AVERAGE

319.1832 UGX

2023 GHS to UGX Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the GHS to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 445.6822. Conversely, the yearly low was recorded on February 19, dropping to 287.8399.

This high-to-low spread represents a total annual volatility of 157.8422 UGX. From a start-to-finish perspective, comparing the January average rate of 325.7392 to the December average rate of 314.5767, the exchange rate registered a net change of -3.43% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 445.6822 was down 22.70% compared to the 2022 peak of 576.5402, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 2,228,411 UGX

2022 Average 2,170,464 UGX

Yearly Trough Low 1,439,200 UGX

Transaction Impact: A difference of 789,211.22 UGX purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

331.6343

292.1041

JanuMarcMayJulySeptNove

GHS 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 317.9065, compared to 320.4599 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 2.5534 points.

H1 Avg (Jan–Jun) 317.9065

H2 Avg (Jul–Dec) 320.4599

Volatility Range Comparison

Volatility

The most volatile month in 2023 was January, with a trading range of 150.8055 UGX (High: 445.6822 / Low: 294.8767). On the other end, September was the most stable month, with a tight range of 2.9839 UGX (High: 327.2072 / Low: 324.2233).

January Spread (Volatile) ±150.8055

September Spread (Stable) ±2.9839

Growth Streaks & Declines

Trends

Between February and May, 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 January and February, when the average rate fell by 30.3410 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -30.3410

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 325.7392) against the same month in 2022 (average: 567.7551), the exchange rate shifted by -242.0159 (-42.63%).

2023 Avg (January) 325.7392

2022 Avg (January) 567.7551

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	445.6822	294.8767	325.7392
February	301.5662	287.8399	295.3982
March	322.9344	290.8457	303.1958
April	350.7821	310.9324	327.6067
May	350.3303	314.2693	328.3402
June	335.8565	319.3905	327.1588
July	325.5004	313.8837	320.9368
August	333.8241	319.2564	326.3789
September	327.2072	324.2233	325.4455
October	324.5005	316.8547	319.0954
November	318.0505	314.9129	316.3259
December	316.9946	312.7487	314.5767