2023 SGD to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 SGD to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the SGD to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on December 31, valuing the pair at 2870.1596. Conversely, the yearly low was recorded on August 6, dropping to 2676.0704.
This high-to-low spread represents a total annual volatility of 194.0892 UGX. From a start-to-finish perspective, comparing the January average rate of 2787.0431 to the December average rate of 2840.4905, the exchange rate registered a net change of 1.92% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 2870.1596 was up 1.61% compared to the 2022 peak of 2824.6625, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 SGD based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
SGD 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 2780.4508, compared to 2765.5564 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 14.8945 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was March, with a trading range of 118.4615 UGX (High: 2850.7703 / Low: 2732.3089). On the other end, September was the most stable month, with a tight range of 28.8427 UGX (High: 2758.9104 / Low: 2730.0677).
Growth Streaks & Declines
TrendsBetween February and April, 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 May and June, when the average rate fell by 29.5076 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (December 2023: 2840.4905) against the same month in 2022 (average: 2727.0015), the exchange rate shifted by +113.4890 (+4.16%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 2809.6791 | 2770.3580 | 2787.0431 |
| February | 2822.7710 | 2729.2256 | 2765.7803 |
| March | 2850.7703 | 2732.3089 | 2787.0735 |
| April | 2854.3928 | 2789.2366 | 2810.0695 |
| May | 2812.0331 | 2752.5619 | 2781.1231 |
| June | 2783.1358 | 2701.6889 | 2751.6155 |
| July | 2775.1016 | 2695.5921 | 2742.4392 |
| August | 2766.8231 | 2676.0704 | 2724.3599 |
| September | 2758.9104 | 2730.0677 | 2742.3772 |
| October | 2763.0686 | 2723.2385 | 2741.3920 |
| November | 2858.0067 | 2760.1249 | 2802.2793 |
| December | 2870.1596 | 2811.6596 | 2840.4905 |