2013 TOP to ILS Historical Review

YEARLY HIGH

2.1690 ILS

YEARLY LOW

1.8663 ILS

YEARLY AVERAGE

2.0172 ILS

2013 TOP to ILS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2013

During 2013, the TOP to ILS exchange rate experienced significant fluctuation. The market reached its absolute peak on January 9, valuing the pair at 2.1690. Conversely, the yearly low was recorded on December 31, dropping to 1.8663.

This high-to-low spread represents a total annual volatility of 0.3027 ILS. From a start-to-finish perspective, comparing the January average rate of 2.1545 to the December average rate of 1.8856, the exchange rate registered a net change of -12.48% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2013 high of 2.1690 was down 6.64% compared to the 2012 peak of 2.3233, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

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

Yearly Peak High 10,845 ILS

2012 Average 11,087 ILS

Yearly Trough Low 9,331 ILS

Transaction Impact: A difference of 1,513.61 ILS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2013.

2.1814

1.8587

JanuMarcMayJulySeptNove

TOP 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 2.0975, compared to 1.9370 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.1606 points.

H1 Avg (Jan–Jun) 2.0975

H2 Avg (Jul–Dec) 1.9370

Volatility Range Comparison

Volatility

The most volatile month in 2013 was June, with a trading range of 0.1692 ILS (High: 2.1201 / Low: 1.9508). On the other end, January was the most stable month, with a tight range of 0.0294 ILS (High: 2.1690 / Low: 2.1396).

June Spread (Volatile) ±0.1692

January Spread (Stable) ±0.0294

Growth Streaks & Declines

Trends

Between August and October, 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 June and July, when the average rate fell by 0.0796 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0796

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2013: 2.1545) against the same month in 2012 (average: 2.1874), the exchange rate shifted by -0.0329 (-1.50%).

2013 Avg (January) 2.1545

2012 Avg (January) 2.1874

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.1690	2.1396	2.1545
February	2.1592	2.1226	2.1360
March	2.1647	2.0725	2.1064
April	2.0994	2.0627	2.0795
May	2.1174	2.0355	2.0769
June	2.1201	1.9508	2.0318
July	1.9697	1.9295	1.9522
August	1.9735	1.9088	1.9307
September	1.9774	1.9034	1.9421
October	1.9830	1.9402	1.9616
November	1.9826	1.8955	1.9495
December	1.9026	1.8663	1.8856