2011 GEL to ILS Historical Review

YEARLY HIGH

2.2989 ILS

YEARLY LOW

1.9540 ILS

YEARLY AVERAGE

2.1242 ILS

2011 GEL to ILS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the GEL to ILS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 14, valuing the pair at 2.2989. Conversely, the yearly low was recorded on January 18, dropping to 1.9540.

This high-to-low spread represents a total annual volatility of 0.3449 ILS. From a start-to-finish perspective, comparing the January average rate of 1.9980 to the December average rate of 2.2749, the exchange rate registered a net change of 13.86% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 2.2989 was up 2.77% compared to the 2010 peak of 2.2369, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 11,495 ILS

2010 Average 10,446 ILS

Yearly Trough Low 9,770 ILS

Transaction Impact: A difference of 1,724.52 ILS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

2.3026

1.9703

JanuMarcMayJulySeptNove

GEL to ILS 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 2.0560, compared to 2.1924 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.1364 points.

H1 Avg (Jan–Jun) 2.0560

H2 Avg (Jul–Dec) 2.1924

Volatility Range Comparison

Volatility

The most volatile month in 2011 was August, with a trading range of 0.1273 ILS (High: 2.1953 / Low: 2.0679). On the other end, July was the most stable month, with a tight range of 0.0395 ILS (High: 2.0751 / Low: 2.0357).

August Spread (Volatile) ±0.1273

July Spread (Stable) ±0.0395

Growth Streaks & Declines

Trends

Between 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 0.0219 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0219

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2011: 2.2749) against the same month in 2010 (average: 2.0441), the exchange rate shifted by +0.2308 (+11.29%).

2011 Avg (December) 2.2749

2010 Avg (December) 2.0441

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.0530	1.9540	1.9980
February	2.0853	2.0393	2.0634
March	2.1026	2.0396	2.0831
April	2.0925	2.0382	2.0612
May	2.1016	2.0187	2.0670
June	2.1076	2.0259	2.0636
July	2.0751	2.0357	2.0512
August	2.1953	2.0679	2.1517
September	2.2547	2.1577	2.2185
October	2.2533	2.1645	2.2096
November	2.2885	2.2014	2.2487
December	2.2989	2.2491	2.2749