2023 JMD to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 JMD to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the JMD to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on March 29, valuing the pair at 25.1153. Conversely, the yearly low was recorded on August 3, dropping to 23.2945.
This high-to-low spread represents a total annual volatility of 1.8208 UGX. From a start-to-finish perspective, comparing the January average rate of 24.1503 to the December average rate of 24.3483, the exchange rate registered a net change of 0.82% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 25.1153 was down 1.69% compared to the 2022 peak of 25.5476, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 JMD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
JMD 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 24.2366, compared to 24.1036 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.1330 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was March, with a trading range of 0.9844 UGX (High: 25.1153 / Low: 24.1309). On the other end, September was the most stable month, with a tight range of 0.2934 UGX (High: 24.3930 / Low: 24.0996).
Growth Streaks & Declines
TrendsBetween July and December, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 5 straight months. Conversely, the sharpest month-over-month decline occurred between April and May, when the average rate fell by 0.4206 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (March 2023: 24.6027) against the same month in 2022 (average: 23.3977), the exchange rate shifted by +1.2049 (+5.15%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 24.7007 | 23.8373 | 24.1503 |
| February | 24.2355 | 23.7488 | 23.9032 |
| March | 25.1153 | 24.1309 | 24.6027 |
| April | 25.0970 | 24.3938 | 24.6026 |
| May | 24.4787 | 24.0512 | 24.1820 |
| June | 24.2646 | 23.7393 | 23.9790 |
| July | 24.0367 | 23.3824 | 23.7344 |
| August | 24.1834 | 23.2945 | 23.8061 |
| September | 24.3930 | 24.0996 | 24.1937 |
| October | 24.4973 | 24.0813 | 24.2186 |
| November | 24.5480 | 24.0568 | 24.3204 |
| December | 24.6063 | 24.1765 | 24.3483 |