2015 TOP to ILS Historical Review

YEARLY HIGH

2.0137 ILS

YEARLY LOW

1.6903 ILS

YEARLY AVERAGE

1.8382 ILS

2015 TOP to ILS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2015

During 2015, the TOP to ILS exchange rate experienced significant fluctuation. The market reached its absolute peak on March 8, valuing the pair at 2.0137. Conversely, the yearly low was recorded on December 14, dropping to 1.6903.

This high-to-low spread represents a total annual volatility of 0.3234 ILS. From a start-to-finish perspective, comparing the January average rate of 1.9914 to the December average rate of 1.7267, the exchange rate registered a net change of -13.29% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2015 high of 2.0137 was down 1.45% compared to the 2014 peak of 2.0433, 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 10,068 ILS

2014 Average 9,474 ILS

Yearly Trough Low 8,451 ILS

Transaction Impact: A difference of 1,616.95 ILS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2015.

2.0179

1.6998

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 1.9323, compared to 1.7440 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.1883 points.

H1 Avg (Jan–Jun) 1.9323

H2 Avg (Jul–Dec) 1.7440

Volatility Range Comparison

Volatility

The most volatile month in 2015 was June, with a trading range of 0.1369 ILS (High: 1.8825 / Low: 1.7456). On the other end, May was the most stable month, with a tight range of 0.0381 ILS (High: 1.9195 / Low: 1.8813).

June Spread (Volatile) ±0.1369

May Spread (Stable) ±0.0381

Growth Streaks & Declines

Trends

No sustained consecutive month-over-month growth streak of 2+ months occurred in 2015. Conversely, the sharpest month-over-month decline occurred between May and June, when the average rate fell by 0.0770 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0770

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (March 2015: 1.9844) against the same month in 2014 (average: 1.8737), the exchange rate shifted by +0.1107 (+5.91%).

2015 Avg (March) 1.9844

2014 Avg (March) 1.8737

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	2.0118	1.9669	1.9914
February	1.9948	1.9075	1.9398
March	2.0137	1.9522	1.9844
April	1.9691	1.9079	1.9421
May	1.9195	1.8813	1.9066
June	1.8825	1.7456	1.8296
July	1.7822	1.6998	1.7535
August	1.7693	1.6994	1.7263
September	1.8236	1.7326	1.7746
October	1.7595	1.7082	1.7336
November	1.7764	1.7255	1.7493
December	1.7459	1.6903	1.7267