2011 MAD to ILS Historical Review

YEARLY HIGH

0.4597 ILS

YEARLY LOW

0.4133 ILS

YEARLY AVERAGE

0.4421 ILS

2011 MAD to ILS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2011

During 2011, the MAD to ILS exchange rate experienced significant fluctuation. The market reached its absolute peak on August 25, valuing the pair at 0.4597. Conversely, the yearly low was recorded on January 11, dropping to 0.4133.

This high-to-low spread represents a total annual volatility of 0.0464 ILS. From a start-to-finish perspective, comparing the January average rate of 0.4295 to the December average rate of 0.4462, the exchange rate registered a net change of 3.89% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2011 high of 0.4597 was down 4.34% compared to the 2010 peak of 0.4806, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 2,299 ILS

2010 Average 2,219 ILS

Yearly Trough Low 2,066 ILS

Transaction Impact: A difference of 232.13 ILS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2011.

0.4537

0.4272

JanuMarcMayJulySeptNove

MAD 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 0.4380, compared to 0.4462 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0083 points.

H1 Avg (Jan–Jun) 0.4380

H2 Avg (Jul–Dec) 0.4462

Volatility Range Comparison

Volatility

The most volatile month in 2011 was January, with a trading range of 0.0402 ILS (High: 0.4535 / Low: 0.4133). On the other end, June was the most stable month, with a tight range of 0.0048 ILS (High: 0.4365 / Low: 0.4317).

January Spread (Volatile) ±0.0402

June Spread (Stable) ±0.0048

Growth Streaks & Declines

Trends

Between July and September, 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 May and June, when the average rate fell by 0.0056 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0056

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (August 2011: 0.4496) against the same month in 2010 (average: 0.4405), the exchange rate shifted by +0.0090 (+2.05%).

2011 Avg (August) 0.4496

2010 Avg (August) 0.4405

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.4535	0.4133	0.4295
February	0.4526	0.4359	0.4451
March	0.4489	0.4373	0.4429
April	0.4427	0.4341	0.4375
May	0.4450	0.4353	0.4392
June	0.4365	0.4317	0.4337
July	0.4348	0.4282	0.4315
August	0.4597	0.4339	0.4496
September	0.4593	0.4457	0.4515
October	0.4516	0.4419	0.4479
November	0.4531	0.4468	0.4508
December	0.4508	0.4428	0.4462