2022 NGN to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2022.
2022 NGN to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2022
During 2022, the NGN to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on August 6, valuing the pair at 9.3605. Conversely, the yearly low was recorded on December 19, dropping to 8.1373.
This high-to-low spread represents a total annual volatility of 1.2233 UGX. From a start-to-finish perspective, comparing the January average rate of 8.5292 to the December average rate of 8.2792, the exchange rate registered a net change of -2.93% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2022 high of 9.3605 was down 3.72% compared to the 2021 peak of 9.7217, indicating shifts in long-term support levels.
Comparing the value generated converting 1,000,000 NGN based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2022.
NGN 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 8.6484, compared to 8.7735 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1251 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2022 was May, with a trading range of 0.5641 UGX (High: 9.0975 / Low: 8.5333). On the other end, February was the most stable month, with a tight range of 0.1350 UGX (High: 8.5329 / Low: 8.3979).
Growth Streaks & Declines
TrendsBetween April and August, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between October and November, when the average rate fell by 0.2703 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (August 2022: 9.1125) against the same month in 2021 (average: 8.5964), the exchange rate shifted by +0.5161 (+6.00%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 8.6180 | 8.4354 | 8.5292 |
| February | 8.5329 | 8.3979 | 8.4486 |
| March | 8.7101 | 8.4838 | 8.6323 |
| April | 8.6153 | 8.4714 | 8.5308 |
| May | 9.0975 | 8.5333 | 8.7378 |
| June | 9.1547 | 8.8899 | 9.0117 |
| July | 9.2956 | 8.8551 | 9.0554 |
| August | 9.3605 | 8.8770 | 9.1125 |
| September | 9.0291 | 8.7787 | 8.9175 |
| October | 8.9112 | 8.6399 | 8.7732 |
| November | 8.6348 | 8.4189 | 8.5029 |
| December | 8.4241 | 8.1373 | 8.2792 |