2023 KES to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 KES to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the KES to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on January 2, valuing the pair at 30.1949. Conversely, the yearly low was recorded on December 30, dropping to 24.0770.
This high-to-low spread represents a total annual volatility of 6.1179 UGX. From a start-to-finish perspective, comparing the January average rate of 29.7847 to the December average rate of 24.4854, the exchange rate registered a net change of -17.79% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 30.1949 was down 7.79% compared to the 2022 peak of 32.7456, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 KES based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
KES 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 28.2553, compared to 25.2445 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 3.0108 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was June, with a trading range of 1.2956 UGX (High: 27.3000 / Low: 26.0044). On the other end, September was the most stable month, with a tight range of 0.2786 UGX (High: 25.6304 / Low: 25.3518).
Growth Streaks & Declines
TrendsNo sustained consecutive month-over-month growth streak of 2+ months occurred in 2023. Conversely, the sharpest month-over-month decline occurred between March and April, when the average rate fell by 0.9835 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2023: 29.7847) against the same month in 2022 (average: 31.1216), the exchange rate shifted by -1.3370 (-4.30%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 30.1949 | 29.5432 | 29.7847 |
| February | 29.8057 | 29.1579 | 29.3451 |
| March | 29.2077 | 28.3939 | 28.8420 |
| April | 28.4527 | 27.4647 | 27.8585 |
| May | 27.5785 | 26.9461 | 27.1596 |
| June | 27.3000 | 26.0044 | 26.5422 |
| July | 26.3634 | 25.3515 | 25.8921 |
| August | 26.2329 | 25.0659 | 25.6046 |
| September | 25.6304 | 25.3518 | 25.4746 |
| October | 25.4315 | 24.9770 | 25.1433 |
| November | 25.1591 | 24.6958 | 24.8669 |
| December | 24.9686 | 24.0770 | 24.4854 |