2011 ILS to TOP Historical Review

YEARLY HIGH

0.5454 TOP

YEARLY LOW

0.4486 TOP

YEARLY AVERAGE

0.4914 TOP

2011 ILS to TOP Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the ILS to TOP exchange rate experienced significant fluctuation. The market reached its absolute peak on April 21, valuing the pair at 0.5454. Conversely, the yearly low was recorded on September 12, dropping to 0.4486.

This high-to-low spread represents a total annual volatility of 0.0968 TOP. From a start-to-finish perspective, comparing the January average rate of 0.5185 to the December average rate of 0.4597, the exchange rate registered a net change of -11.35% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2011 high of 0.5454 was up 1.02% compared to the 2010 peak of 0.5399, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 2,727 TOP

2010 Average 2,580 TOP

Yearly Trough Low 2,243 TOP

Transaction Impact: A difference of 483.92 TOP purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

0.5417

0.4482

JanuMarcMayJulySeptNove

ILS to TOP 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 0.5165, compared to 0.4662 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0503 points.

H1 Avg (Jan–Jun) 0.5165

H2 Avg (Jul–Dec) 0.4662

Volatility Range Comparison

Volatility

The most volatile month in 2011 was July, with a trading range of 0.0368 TOP (High: 0.5073 / Low: 0.4705). On the other end, December was the most stable month, with a tight range of 0.0152 TOP (High: 0.4643 / Low: 0.4490).

July Spread (Volatile) ±0.0368

December Spread (Stable) ±0.0152

Growth Streaks & Declines

Trends

Between February and April, 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 July and August, when the average rate fell by 0.0319 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0319

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (April 2011: 0.5339) against the same month in 2010 (average: 0.5192), the exchange rate shifted by +0.0147 (+2.83%).

2011 Avg (April) 0.5339

2010 Avg (April) 0.5192

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.5298	0.4991	0.5185
February	0.5147	0.4987	0.5065
March	0.5340	0.5072	0.5207
April	0.5454	0.5237	0.5339
May	0.5246	0.4970	0.5097
June	0.5185	0.4998	0.5098
July	0.5073	0.4705	0.4933
August	0.4712	0.4560	0.4615
September	0.4687	0.4486	0.4560
October	0.4776	0.4583	0.4678
November	0.4703	0.4519	0.4589
December	0.4643	0.4490	0.4597