2023 MAD to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 MAD to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the MAD to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on December 28, valuing the pair at 383.1952. Conversely, the yearly low was recorded on February 19, dropping to 353.7595.
This high-to-low spread represents a total annual volatility of 29.4357 UGX. From a start-to-finish perspective, comparing the January average rate of 360.8109 to the December average rate of 376.6483, the exchange rate registered a net change of 4.39% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 383.1952 was down 0.50% compared to the 2022 peak of 385.1065, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 MAD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
MAD 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 364.5857, compared to 371.1636 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 6.5779 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was August, with a trading range of 17.4979 UGX (High: 381.7397 / Low: 364.2418). On the other end, September was the most stable month, with a tight range of 4.9385 UGX (High: 368.1598 / Low: 363.2214).
Growth Streaks & Declines
TrendsBetween February and April, 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 August and September, when the average rate fell by 6.3592 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 376.6483) against the same month in 2022 (average: 350.6092), the exchange rate shifted by +26.0390 (+7.43%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 363.7430 | 354.5807 | 360.8109 |
| February | 363.2712 | 353.7595 | 357.9282 |
| March | 370.8846 | 354.4037 | 361.8529 |
| April | 377.1491 | 366.8339 | 369.5323 |
| May | 373.7628 | 364.1373 | 368.7306 |
| June | 371.5447 | 365.9643 | 368.6592 |
| July | 380.8790 | 366.9426 | 375.9761 |
| August | 381.7397 | 364.2418 | 371.7775 |
| September | 368.1598 | 363.2214 | 365.4183 |
| October | 367.9796 | 361.0702 | 365.3066 |
| November | 379.2282 | 367.3245 | 371.8547 |
| December | 383.1952 | 372.0997 | 376.6483 |