2023 UGX to GNF Historical Review

YEARLY HIGH

2.4146 GNF

YEARLY LOW

2.2517 GNF

YEARLY AVERAGE

2.3150 GNF

2023 UGX to GNF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the UGX to GNF exchange rate experienced significant fluctuation. The market reached its absolute peak on August 6, valuing the pair at 2.4146. Conversely, the yearly low was recorded on November 30, dropping to 2.2517.

This high-to-low spread represents a total annual volatility of 0.1629 GNF. From a start-to-finish perspective, comparing the January average rate of 2.3476 to the December average rate of 2.2747, the exchange rate registered a net change of -3.10% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 2.4146 was down 8.30% compared to the 2022 peak of 2.6330, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 12,073 GNF

2022 Average 11,951 GNF

Yearly Trough Low 11,259 GNF

Transaction Impact: A difference of 814.45 GNF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

2.3587

2.2671

JanuMarcMayJulySeptNove

UGX to GNF 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 2.3241, compared to 2.3059 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0182 points.

H1 Avg (Jan–Jun) 2.3241

H2 Avg (Jul–Dec) 2.3059

Volatility Range Comparison

Volatility

The most volatile month in 2023 was August, with a trading range of 0.1134 GNF (High: 2.4146 / Low: 2.3013). On the other end, December was the most stable month, with a tight range of 0.0284 GNF (High: 2.2883 / Low: 2.2599).

August Spread (Volatile) ±0.1134

December Spread (Stable) ±0.0284

Growth Streaks & Declines

Trends

Between April and July, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between August and September, when the average rate fell by 0.0385 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0385

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2023: 2.3400) against the same month in 2022 (average: 2.2664), the exchange rate shifted by +0.0736 (+3.25%).

2023 Avg (August) 2.3400

2022 Avg (August) 2.2664

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.3977	2.3133	2.3476
February	2.3989	2.3090	2.3449
March	2.3713	2.2760	2.3114
April	2.3186	2.2700	2.2978
May	2.3313	2.2804	2.3145
June	2.3569	2.2915	2.3285
July	2.3849	2.3295	2.3510
August	2.4146	2.3013	2.3400
September	2.3240	2.2827	2.3014
October	2.3050	2.2764	2.2918
November	2.2914	2.2517	2.2764
December	2.2883	2.2599	2.2747