2023 NOK to UGX Historical Review

YEARLY HIGH

380.0584 UGX

YEARLY LOW

334.4129 UGX

YEARLY AVERAGE

352.8829 UGX

2023 NOK to UGX Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the NOK to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on January 1, valuing the pair at 380.0584. Conversely, the yearly low was recorded on May 30, dropping to 334.4129.

This high-to-low spread represents a total annual volatility of 45.6455 UGX. From a start-to-finish perspective, comparing the January average rate of 371.9671 to the December average rate of 359.8695, the exchange rate registered a net change of -3.25% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 380.0584 was down 9.46% compared to the 2022 peak of 419.7731, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 NOK based on timing:

Yearly Peak High 1,900,292 UGX

2022 Average 1,923,104 UGX

Yearly Trough Low 1,672,065 UGX

Transaction Impact: A difference of 228,227.44 UGX purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

375.0471

338.0873

JanuMarcMayJulySeptNove

NOK 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 355.1391, compared to 350.6268 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 4.5122 points.

H1 Avg (Jan–Jun) 355.1391

H2 Avg (Jul–Dec) 350.6268

Volatility Range Comparison

Volatility

The most volatile month in 2023 was July, with a trading range of 29.6532 UGX (High: 368.8776 / Low: 339.2243). On the other end, September was the most stable month, with a tight range of 7.6526 UGX (High: 352.9769 / Low: 345.3243).

July Spread (Volatile) ±29.6532

September Spread (Stable) ±7.6526

Growth Streaks & Declines

Trends

Between October and December, 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 January and February, when the average rate fell by 12.1627 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -12.1627

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 371.9671) against the same month in 2022 (average: 398.7076), the exchange rate shifted by -26.7405 (-6.71%).

2023 Avg (January) 371.9671

2022 Avg (January) 398.7076

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	380.0584	363.8302	371.9671
February	372.6288	354.4671	359.8044
March	364.1118	345.2115	354.7275
April	367.4297	349.8950	356.2862
May	354.5832	334.4129	344.7402
June	351.7002	337.3670	343.3089
July	368.8776	339.2243	356.2045
August	358.9073	345.3368	351.4487
September	352.9769	345.3243	348.4920
October	351.5178	335.7839	341.1673
November	358.3878	335.1276	346.5789
December	372.2334	345.7212	359.8695