Page 165 - flipbook-ubp-IR

OUR CORPORATE PERFORMANCE GOVERNANCE
(ii) Currency profile
2021 Financial assets Rs’000 Euro 5 United States Dollars 2 Mauritian Rupees 455,855 Malagasy Ariary - Sri Lanka Rupee - 455,862
2021 Financial liabilities Rs’000 Euro 4,984 United States Dollars 177 Pound Sterling 76 Mauritian Rupees 972,099 South African Rand 540 Malagasy Ariary - Sri Lanka Rupee - 977,876
Foreign currency risk
Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates.
The Group has transactional currency exposures. Such exposure arises from sales or purchases by an operating unit in currencies other than the unit of the functional currency. While revenue is generated principally in the functional currency, significant expenditures are incurred in Euro, US Dollars and Malagasy Ariary. The Group does not have a policy to hedge against foreign currency risk.
Foreign currency sensitivity
The following table demonstrates due to changes in the fair value of monetary assets and liabilities the sensitivity of the Group’s profit after tax and equity to a reasonably possible change in Euro, US Dollars and Malagasy Ariary exchange rates, with all other variables held constant.
THE GROUP
2022
Rs’000
16,638
5,570
532,120
5,206
15,525
2021
Rs’000 7,676 4,789 465,504 45,849 6,191
THE COMPANY
2022
Rs’000
2,014
584,613
619
-
-
575,059
530,009
587,246
THE GROUP
2022
1,224
29,495
4,808
2021
THE COMPANY
2022
Rs’000
46,056
5,915
2,291,665
100
Rs’000 22,835 2,544 5 1,328,397 1,840 86,634 5,173
Rs’000
18,963
57,743
1,694,540
100
780
-
-
2,379,263
1,447,428
1,772,126
Increase / (decrease) in exchange rate
Euro +5% Euro -10%
US Dollar +5% US Dollar -10%
Malagasy Ariary +5% Malagasy Ariary -10%
Rs’000 (758) 1,516
112 (225)
(2,039) 4,079
2021 Rs’000 (249) 498
(9) 18
- -
2022
UBP INTEGRATED REPORT 2022
163
THE GROUP
2,942
(17)
(1,214)
2,429
35
2021
THE COMPANY
2022
Rs’000
(1,471)
Rs’000
(847)
1,695
(2,856)
5,712
-
-
FINANCIAL STATEMENTS