2023 GTQ to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 GTQ to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the GTQ to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on November 30, valuing the pair at 487.8402. Conversely, the yearly low was recorded on August 3, dropping to 458.6097.
This high-to-low spread represents a total annual volatility of 29.2305 UGX. From a start-to-finish perspective, comparing the January average rate of 470.4011 to the December average rate of 482.8343, the exchange rate registered a net change of 2.64% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 487.8402 was down 2.76% compared to the 2022 peak of 501.7007, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 GTQ based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
GTQ 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 475.2797, compared to 475.8862 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.6065 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was August, with a trading range of 17.4861 UGX (High: 476.0958 / Low: 458.6097). On the other end, December was the most stable month, with a tight range of 5.4867 UGX (High: 485.8609 / Low: 480.3742).
Growth Streaks & Declines
TrendsBetween July and November, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 5.7970 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2023: 482.9491) against the same month in 2022 (average: 480.9415), the exchange rate shifted by +2.0076 (+0.42%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 475.3000 | 466.4398 | 470.4011 |
| February | 476.9495 | 467.2391 | 470.7365 |
| March | 486.2459 | 473.9737 | 479.6286 |
| April | 484.9487 | 478.3382 | 480.4552 |
| May | 483.5051 | 475.0704 | 477.5763 |
| June | 479.3878 | 467.1116 | 472.8805 |
| July | 472.2808 | 460.2186 | 467.0835 |
| August | 476.0958 | 458.6097 | 468.4991 |
| September | 479.5817 | 472.3234 | 475.2507 |
| October | 482.7618 | 476.0456 | 478.7004 |
| November | 487.8402 | 480.0395 | 482.9491 |
| December | 485.8609 | 480.3742 | 482.8343 |