2024 TOP to UGX Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2024.
2024 TOP to UGX Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2024
During 2024, the TOP to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on February 26, valuing the pair at 1674.5052. Conversely, the yearly low was recorded on December 17, dropping to 1520.1274.
This high-to-low spread represents a total annual volatility of 154.3778 UGX. From a start-to-finish perspective, comparing the January average rate of 1614.9627 to the December average rate of 1530.0658, the exchange rate registered a net change of -5.26% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2024 high of 1674.5052 was up 3.05% compared to the 2023 peak of 1624.9866, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 TOP based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2024.
TOP 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 1614.3950, compared to 1557.4700 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 56.9250 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2024 was February, with a trading range of 63.6024 UGX (High: 1674.5052 / Low: 1610.9028). On the other end, September was the most stable month, with a tight range of 15.9251 UGX (High: 1593.2292 / Low: 1577.3041).
Growth Streaks & Declines
TrendsBetween January and March, 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 42.1744 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (February 2024: 1635.3615) against the same month in 2023 (average: 1577.5288), the exchange rate shifted by +57.8327 (+3.67%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 1626.9120 | 1606.2363 | 1614.9627 |
| February | 1674.5052 | 1610.9028 | 1635.3615 |
| March | 1657.8235 | 1631.0186 | 1644.2854 |
| April | 1630.0555 | 1579.6546 | 1602.1111 |
| May | 1618.6329 | 1582.7537 | 1599.2094 |
| June | 1621.6611 | 1568.0047 | 1590.4401 |
| July | 1576.4005 | 1557.2207 | 1565.6637 |
| August | 1591.9146 | 1549.6707 | 1573.7819 |
| September | 1593.2292 | 1577.3041 | 1582.6303 |
| October | 1571.7257 | 1534.9470 | 1554.0357 |
| November | 1546.2221 | 1523.2074 | 1538.6427 |
| December | 1540.3271 | 1520.1274 | 1530.0658 |