2023 NAD to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 NAD to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the NAD to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on January 5, valuing the pair at 220.9483. Conversely, the yearly low was recorded on October 25, dropping to 186.3037.
This high-to-low spread represents a total annual volatility of 34.6446 UGX. From a start-to-finish perspective, comparing the January average rate of 216.1703 to the December average rate of 202.4266, the exchange rate registered a net change of -6.36% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 220.9483 was down 10.97% compared to the 2022 peak of 248.1802, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 NAD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
NAD 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 204.3512, compared to 198.6897 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 5.6615 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was November, with a trading range of 19.5171 UGX (High: 208.1197 / Low: 188.6026). On the other end, September was the most stable month, with a tight range of 6.8064 UGX (High: 200.7123 / Low: 193.9059).
Growth Streaks & Declines
TrendsBetween May and July, 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 April and May, when the average rate fell by 10.5826 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2023: 216.1703) against the same month in 2022 (average: 227.6765), the exchange rate shifted by -11.5062 (-5.05%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 220.9483 | 212.8091 | 216.1703 |
| February | 217.5695 | 201.9458 | 206.3115 |
| March | 210.4131 | 199.0830 | 204.4716 |
| April | 212.1932 | 202.2946 | 205.9459 |
| May | 203.8011 | 189.2033 | 195.3633 |
| June | 203.3699 | 190.1441 | 197.8447 |
| July | 207.8171 | 194.1563 | 200.7388 |
| August | 201.3443 | 187.4473 | 195.3420 |
| September | 200.7123 | 193.9059 | 197.0651 |
| October | 200.8505 | 186.3037 | 194.9690 |
| November | 208.1197 | 188.6026 | 201.5968 |
| December | 207.3452 | 197.6487 | 202.4266 |