2024 GMD to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 GMD to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the GMD to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on February 25, valuing the pair at 58.4343. Conversely, the yearly low was recorded on December 17, dropping to 50.5575.
This high-to-low spread represents a total annual volatility of 7.8769 UGX. From a start-to-finish perspective, comparing the January average rate of 56.5299 to the December average rate of 51.0209, the exchange rate registered a net change of -9.75% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2024 high of 58.4343 was down 7.88% compared to the 2023 peak of 63.4359, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 GMD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
GMD 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 56.4411, compared to 52.8290 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 3.6121 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was October, with a trading range of 2.4063 UGX (High: 54.4580 / Low: 52.0517). On the other end, January was the most stable month, with a tight range of 0.5768 UGX (High: 56.7680 / Low: 56.1911).
Growth Streaks & Declines
TrendsBetween January and March, 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 July and August, when the average rate fell by 1.3408 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (February 2024: 57.2786) against the same month in 2023 (average: 60.3432), the exchange rate shifted by -3.0645 (-5.08%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 56.7680 | 56.1911 | 56.5299 |
| February | 58.4343 | 56.4999 | 57.2786 |
| March | 57.8880 | 57.0588 | 57.3268 |
| April | 57.2783 | 55.8637 | 56.2599 |
| May | 56.4343 | 55.2310 | 55.8833 |
| June | 56.2967 | 54.6540 | 55.3680 |
| July | 55.1653 | 53.5212 | 54.6196 |
| August | 54.0830 | 52.2724 | 53.2788 |
| September | 54.3192 | 52.3753 | 53.3513 |
| October | 54.4580 | 52.0517 | 52.9966 |
| November | 52.2323 | 51.1420 | 51.7070 |
| December | 51.9487 | 50.5575 | 51.0209 |