2024 UGX to GNF Historical Review

YEARLY HIGH

2.3735 GNF

YEARLY LOW

2.1752 GNF

YEARLY AVERAGE

2.2935 GNF

2024 UGX to GNF Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2024

During 2024, the UGX to GNF exchange rate experienced significant fluctuation. The market reached its absolute peak on December 18, valuing the pair at 2.3735. Conversely, the yearly low was recorded on February 26, dropping to 2.1752.

This high-to-low spread represents a total annual volatility of 0.1983 GNF. From a start-to-finish perspective, comparing the January average rate of 2.2595 to the December average rate of 2.3557, the exchange rate registered a net change of 4.26% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2024 high of 2.3735 was down 1.70% compared to the 2023 peak of 2.4146, 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 11,867 GNF

2023 Average 11,575 GNF

Yearly Trough Low 10,876 GNF

Transaction Impact: A difference of 991.43 GNF purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2024.

2.3706

2.1918

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 2.2500, compared to 2.3370 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0870 points.

H1 Avg (Jan–Jun) 2.2500

H2 Avg (Jul–Dec) 2.3370

Volatility Range Comparison

Volatility

The most volatile month in 2024 was February, with a trading range of 0.0922 GNF (High: 2.2674 / Low: 2.1752). On the other end, August was the most stable month, with a tight range of 0.0176 GNF (High: 2.3248 / Low: 2.3071).

February Spread (Volatile) ±0.0922

August Spread (Stable) ±0.0176

Growth Streaks & Declines

Trends

Between March and July, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 4 straight months. Conversely, the sharpest month-over-month decline occurred between January and February, when the average rate fell by 0.0376 points.

Longest Streak 4 Mo.

Sharpest MoM Drop -0.0376

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2024: 2.3557) against the same month in 2023 (average: 2.2747), the exchange rate shifted by +0.0810 (+3.56%).

2024 Avg (December) 2.3557

2023 Avg (December) 2.2747

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.2763	2.2487	2.2595
February	2.2674	2.1752	2.2219
March	2.2184	2.1872	2.2067
April	2.2657	2.2111	2.2492
May	2.2926	2.2475	2.2691
June	2.3223	2.2529	2.2936
July	2.3406	2.3063	2.3238
August	2.3248	2.3071	2.3162
September	2.3399	2.3164	2.3284
October	2.3668	2.3479	2.3528
November	2.3571	2.3288	2.3450
December	2.3735	2.3371	2.3557