2020 TOP to ILS Historical Review

YEARLY HIGH

1.6292 ILS

YEARLY LOW

1.4055 ILS

YEARLY AVERAGE

1.4943 ILS

2020 TOP to ILS Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2020

During 2020, the TOP to ILS exchange rate experienced significant fluctuation. The market reached its absolute peak on March 17, valuing the pair at 1.6292. Conversely, the yearly low was recorded on December 23, dropping to 1.4055.

This high-to-low spread represents a total annual volatility of 0.2238 ILS. From a start-to-finish perspective, comparing the January average rate of 1.5065 to the December average rate of 1.4210, the exchange rate registered a net change of -5.68% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2020 high of 1.6292 was down 1.10% compared to the 2019 peak of 1.6474, 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 8,146 ILS

2019 Average 7,779 ILS

Yearly Trough Low 7,027 ILS

Transaction Impact: A difference of 1,118.83 ILS purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2020.

1.5390

1.4103

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 1.5151, compared to 1.4736 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0415 points.

H1 Avg (Jan–Jun) 1.5151

H2 Avg (Jul–Dec) 1.4736

Volatility Range Comparison

Volatility

The most volatile month in 2020 was March, with a trading range of 0.1510 ILS (High: 1.6292 / Low: 1.4782). On the other end, July was the most stable month, with a tight range of 0.0178 ILS (High: 1.5153 / Low: 1.4975).

March Spread (Volatile) ±0.1510

July Spread (Stable) ±0.0178

Growth Streaks & Declines

Trends

No sustained consecutive month-over-month growth streak of 2+ months occurred in 2020. Conversely, the sharpest month-over-month decline occurred between November and December, when the average rate fell by 0.0388 points.

Longest Streak 1 Mo.

Sharpest MoM Drop -0.0388

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (March 2020: 1.5283) against the same month in 2019 (average: 1.5993), the exchange rate shifted by -0.0710 (-4.44%).

2020 Avg (March) 1.5283

2019 Avg (March) 1.5993

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	1.5204	1.4887	1.5065
February	1.5060	1.4693	1.4824
March	1.6292	1.4782	1.5283
April	1.5564	1.5068	1.5277
May	1.5336	1.5133	1.5240
June	1.5429	1.5005	1.5215
July	1.5153	1.4975	1.5053
August	1.5016	1.4765	1.4901
September	1.5241	1.4808	1.4988
October	1.4893	1.4531	1.4667
November	1.4700	1.4451	1.4598
December	1.4388	1.4055	1.4210