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Tiger Brands Limited integrated annual report
2015 175
37 Financial instruments
continued
37.2 Foreign currency risk
continued
The following spot rates were used to translate financial instruments denominated in foreign currency:
(R’million)
Assets
Liabilities
Average
GROUP
2015
US dollar
13,87
13,88
13,87
Pound sterling
21,04
21,05
21,05
Euro
15,52
15,53
15,52
2014
US dollar
11,32
11,32
11,32
Pound sterling
18,35
18,36
18,35
Euro
14,27
14,28
14,28
Forward exchange contracts outstanding at the reporting date all fall due within 12 months. A summary of forward
exchange contract positions bought to settle group foreign liabilities and sold to settle group foreign assets is
shown below.
(R’million)
Foreign
currency
(in million)
Average
rate
Rand
(in million)
GROUP
2015
Foreign currency sold
US dollar
4,5
13,94
62,9
Pound sterling
0,2
21,11
3,2
Euro
0,4
15,60
6,7
Other currencies
–
–
7,4
Foreign currency purchased
US dollar
14,5
13,96
202,0
Pound sterling
2,0
21,14
42,5
Euro
7,3
15,96
116,1
Other currencies
–
–
6,2