2012 MAD to ILS Historical Review

YEARLY HIGH

0.4601 ILS

YEARLY LOW

0.4370 ILS

YEARLY AVERAGE

0.4462 ILS

2012 MAD to ILS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2012

During 2012, the MAD to ILS exchange rate experienced significant fluctuation. The market reached its absolute peak on September 13, valuing the pair at 0.4601. Conversely, the yearly low was recorded on February 6, dropping to 0.4370.

This high-to-low spread represents a total annual volatility of 0.0231 ILS. From a start-to-finish perspective, comparing the January average rate of 0.4422 to the December average rate of 0.4449, the exchange rate registered a net change of 0.61% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2012 high of 0.4601 was up 0.09% compared to the 2011 peak of 0.4597, 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 2,301 ILS

2011 Average 2,210 ILS

Yearly Trough Low 2,185 ILS

Transaction Impact: A difference of 115.59 ILS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2012.

0.4583

0.4398

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 0.4427, compared to 0.4498 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0071 points.

H1 Avg (Jan–Jun) 0.4427

H2 Avg (Jul–Dec) 0.4498

Volatility Range Comparison

Volatility

The most volatile month in 2012 was August, with a trading range of 0.0169 ILS (High: 0.4586 / Low: 0.4416). On the other end, December was the most stable month, with a tight range of 0.0064 ILS (High: 0.4479 / Low: 0.4415).

August Spread (Volatile) ±0.0169

December Spread (Stable) ±0.0064

Growth Streaks & Declines

Trends

Between June and September, 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 September and October, when the average rate fell by 0.0072 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0072

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (September 2012: 0.4568) against the same month in 2011 (average: 0.4515), the exchange rate shifted by +0.0053 (+1.17%).

2012 Avg (September) 0.4568

2011 Avg (September) 0.4515

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.4483	0.4397	0.4422
February	0.4526	0.4370	0.4431
March	0.4502	0.4427	0.4454
April	0.4454	0.4382	0.4425
May	0.4474	0.4371	0.4418
June	0.4474	0.4379	0.4413
July	0.4549	0.4400	0.4454
August	0.4586	0.4416	0.4513
September	0.4601	0.4529	0.4568
October	0.4537	0.4458	0.4496
November	0.4566	0.4460	0.4507
December	0.4479	0.4415	0.4449