2024 JMD to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 JMD to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the JMD to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on March 23, valuing the pair at 25.3574. Conversely, the yearly low was recorded on October 21, dropping to 23.0654.
This high-to-low spread represents a total annual volatility of 2.2920 UGX. From a start-to-finish perspective, comparing the January average rate of 24.5311 to the December average rate of 23.4232, the exchange rate registered a net change of -4.52% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2024 high of 25.3574 was up 0.96% compared to the 2023 peak of 25.1153, 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 2024.
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 24.5759, compared to 23.4805 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 1.0954 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 0.9434 UGX (High: 25.2487 / Low: 24.3053). On the other end, August was the most stable month, with a tight range of 0.1998 UGX (High: 23.8640 / Low: 23.6643).
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 March and April, when the average rate fell by 0.5621 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (March 2024: 25.1944) against the same month in 2023 (average: 24.6027), the exchange rate shifted by +0.5917 (+2.40%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 24.6982 | 24.4593 | 24.5311 |
| February | 25.2487 | 24.3053 | 24.7609 |
| March | 25.3574 | 24.9977 | 25.1944 |
| April | 25.2925 | 24.4108 | 24.6323 |
| May | 24.5136 | 24.0037 | 24.2344 |
| June | 24.6311 | 23.7077 | 24.1025 |
| July | 23.8757 | 23.5555 | 23.6931 |
| August | 23.8640 | 23.6643 | 23.7461 |
| September | 23.9055 | 23.4440 | 23.6280 |
| October | 23.3114 | 23.0654 | 23.1807 |
| November | 23.4627 | 23.0698 | 23.2120 |
| December | 23.5998 | 23.2434 | 23.4232 |