2018 TOP to ILS Historical Review

YEARLY HIGH

1.6754 ILS

YEARLY LOW

1.5044 ILS

YEARLY AVERAGE

1.5816 ILS

2018 TOP to ILS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2018

During 2018, the TOP to ILS exchange rate experienced significant fluctuation. The market reached its absolute peak on December 14, valuing the pair at 1.6754. Conversely, the yearly low was recorded on January 13, dropping to 1.5044.

This high-to-low spread represents a total annual volatility of 0.1709 ILS. From a start-to-finish perspective, comparing the January average rate of 1.5225 to the December average rate of 1.6485, the exchange rate registered a net change of 8.28% (reflecting a strengthening trend).

Looking at year-over-year peak valuations, the 2018 high of 1.6754 was up 0.37% compared to the 2017 peak of 1.6692, 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 8,377 ILS

2017 Average 7,940 ILS

Yearly Trough Low 7,522 ILS

Transaction Impact: A difference of 854.64 ILS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2018.

1.6611

1.5099

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 1.5690, compared to 1.5942 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.0251 points.

H1 Avg (Jan–Jun) 1.5690

H2 Avg (Jul–Dec) 1.5942

Volatility Range Comparison

Volatility

The most volatile month in 2018 was May, with a trading range of 0.0801 ILS (High: 1.6351 / Low: 1.5549). On the other end, July was the most stable month, with a tight range of 0.0298 ILS (High: 1.5898 / Low: 1.5600).

May Spread (Volatile) ±0.0801

July Spread (Stable) ±0.0298

Growth Streaks & Declines

Trends

Between September and December, 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 August and September, when the average rate fell by 0.0314 points.

Longest Streak 3 Mo.

Sharpest MoM Drop -0.0314

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (December 2018: 1.6485) against the same month in 2017 (average: 1.5299), the exchange rate shifted by +0.1186 (+7.75%).

2018 Avg (December) 1.6485

2017 Avg (December) 1.5299

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.5449	1.5044	1.5225
February	1.6051	1.5521	1.5799
March	1.5819	1.5432	1.5589
April	1.6231	1.5694	1.5911
May	1.6351	1.5549	1.5844
June	1.5945	1.5554	1.5773
July	1.5898	1.5600	1.5736
August	1.6094	1.5614	1.5861
September	1.5755	1.5437	1.5547
October	1.6167	1.5717	1.5870
November	1.6316	1.5960	1.6149
December	1.6754	1.6247	1.6485