2024 NGN to UGX Historical Review

YEARLY HIGH

4.4416 UGX

YEARLY LOW

2.1794 UGX

YEARLY AVERAGE

2.6405 UGX

2024 NGN to UGX Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NGN to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on January 17, valuing the pair at 4.4416. Conversely, the yearly low was recorded on November 22, dropping to 2.1794.

This high-to-low spread represents a total annual volatility of 2.2622 UGX. From a start-to-finish perspective, comparing the January average rate of 4.1758 to the December average rate of 2.3329, the exchange rate registered a net change of -44.13% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 4.4416 was down 46.67% compared to the 2023 peak of 8.3279, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 1,000,000 NGN based on timing:

Yearly Peak High 4,441,565 UGX

2023 Average 6,282,621 UGX

Yearly Trough Low 2,179,388 UGX

Transaction Impact: A difference of 2,262,177.46 UGX purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

4.3737

1.9995

JanuMarcMayJulySeptNove

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)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 2.9777, compared to 2.3033 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.6745 points.

H1 Avg (Jan–Jun) 2.9777

H2 Avg (Jul–Dec) 2.3033

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 1.8395 UGX (High: 4.2570 / Low: 2.4175). On the other end, November was the most stable month, with a tight range of 0.0488 UGX (High: 2.2281 / Low: 2.1794).

February Spread (Volatile) ±1.8395

November Spread (Stable) ±0.0488

Growth Streaks & Declines

Trends

No sustained consecutive month-over-month growth streak of 2+ months occurred in 2024. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 1.2288 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -1.2288

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2024: 4.1758) against the same month in 2023 (average: 8.1218), the exchange rate shifted by -3.9459 (-48.58%).

2024 Avg (January) 4.1758

2023 Avg (January) 8.1218

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	4.4416	3.9650	4.1758
February	4.2570	2.4175	2.9470
March	2.7817	2.4102	2.5544
April	3.1911	2.7349	2.9912
May	3.0775	2.4836	2.6824
June	2.6401	2.4414	2.5156
July	2.6396	2.2389	2.4459
August	2.3599	2.2466	2.3307
September	2.3450	2.2097	2.2717
October	2.2688	2.1975	2.2412
November	2.2281	2.1794	2.1973
December	2.3750	2.1906	2.3329