2023 ZAR to UGX Historical Review

YEARLY HIGH

220.9578 UGX

YEARLY LOW

188.5038 UGX

YEARLY AVERAGE

202.0208 UGX

2023 ZAR to UGX Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the ZAR to UGX exchange rate experienced significant fluctuation. The market reached its absolute peak on January 4, valuing the pair at 220.9578. Conversely, the yearly low was recorded on May 25, dropping to 188.5038.

This high-to-low spread represents a total annual volatility of 32.4540 UGX. From a start-to-finish perspective, comparing the January average rate of 216.2034 to the December average rate of 203.3836, the exchange rate registered a net change of -5.93% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 220.9578 was down 10.95% compared to the 2022 peak of 248.1267, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 50,000 ZAR based on timing:

Yearly Peak High 11,047,890 UGX

2022 Average 11,297,823 UGX

Yearly Trough Low 9,425,190 UGX

Transaction Impact: A difference of 1,622,699.33 UGX purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

218.3017

193.1220

JanuMarcMayJulySeptNove

ZAR 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 204.2693, compared to 199.7722 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 4.4971 points.

H1 Avg (Jan–Jun) 204.2693

H2 Avg (Jul–Dec) 199.7722

Volatility Range Comparison

Volatility

The most volatile month in 2023 was March, with a trading range of 16.1893 UGX (High: 212.8838 / Low: 196.6945). On the other end, September was the most stable month, with a tight range of 6.4322 UGX (High: 200.3800 / Low: 193.9478).

March Spread (Volatile) ±16.1893

September Spread (Stable) ±6.4322

Growth Streaks & Declines

Trends

Between August and November, 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 April and May, when the average rate fell by 10.8505 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -10.8505

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 216.2034) against the same month in 2022 (average: 227.7027), the exchange rate shifted by -11.4992 (-5.05%).

2023 Avg (January) 216.2034

2022 Avg (January) 227.7027

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	220.9578	211.8993	216.2034
February	216.1666	201.8000	205.7650
March	212.8838	196.6945	204.5690
April	212.1596	202.4267	206.0708
May	203.4028	188.5038	195.2203
June	203.4660	191.0606	197.7874
July	208.0155	192.2532	201.1060
August	202.1979	190.5877	195.9822
September	200.3800	193.9478	197.1386
October	202.8938	191.3682	197.1990
November	208.2358	200.3421	203.8238
December	207.0077	198.8426	203.3836