2024 NOK to UGX Historical Review

YEARLY HIGH

375.8972 UGX

YEARLY LOW

318.8846 UGX

YEARLY AVERAGE

349.6120 UGX

2024 NOK to UGX Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the NOK to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on February 26, valuing the pair at 375.8972. Conversely, the yearly low was recorded on December 19, dropping to 318.8846.

This high-to-low spread represents a total annual volatility of 57.0127 UGX. From a start-to-finish perspective, comparing the January average rate of 365.7964 to the December average rate of 326.2555, the exchange rate registered a net change of -10.81% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2024 high of 375.8972 was down 1.09% compared to the 2023 peak of 380.0584, 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 1,879,486 UGX

2023 Average 1,764,361 UGX

Yearly Trough Low 1,594,423 UGX

Transaction Impact: A difference of 285,063.49 UGX purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

371.1085

322.1779

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 359.3440, compared to 339.8801 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 19.4639 points.

H1 Avg (Jan–Jun) 359.3440

H2 Avg (Jul–Dec) 339.8801

Volatility Range Comparison

Volatility

The most volatile month in 2024 was August, with a trading range of 18.3841 UGX (High: 355.1665 / Low: 336.7824). On the other end, November was the most stable month, with a tight range of 8.5198 UGX (High: 337.5111 / Low: 328.9913).

August Spread (Volatile) ±18.3841

November Spread (Stable) ±8.5198

Growth Streaks & Declines

Trends

Between April and June, 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 March and April, when the average rate fell by 16.6545 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -16.6545

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (February 2024: 367.0310) against the same month in 2023 (average: 359.8044), the exchange rate shifted by +7.2266 (+2.01%).

2024 Avg (February) 367.0310

2023 Avg (February) 359.8044

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	372.1802	361.2416	365.7964
February	375.8972	357.9238	367.0310
March	374.6582	357.4561	366.8802
April	360.8739	343.0132	350.2257
May	362.7908	344.7087	352.6709
June	364.9657	346.9136	353.4596
July	350.5789	335.2535	343.2050
August	355.1665	336.7824	347.8395
September	356.0450	342.4525	349.8237
October	347.2070	332.7151	339.1886
November	337.5111	328.9913	332.9683
December	333.1081	318.8846	326.2555