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186
Telkom Annual Report 2009
Notes to the consolidated annual financial statements (continued)
for the three years ended March 31, 2009
13. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (continued)
13.5 Foreign currency exchange rate risk management (continued)
Foreign
contract Forward
amount amount Fair value
To sell m Rm Rm
2009
Currency
US$ 99 947 (22)
Euro 35 485 28
Other 21 43 4
2008
Currency
US$ 78 596 (68)
Euro 73 848 (103)
Pound Sterling 5 89 (1)
Other 17 22 (1)
2007
Currency
US$ 122 994 88
Euro 52 505 (5)
Pound Sterling 4 51 1
Other 29 17 –
The Group has various monetary assets and liabilities in currencies other than the Group’s functional currency. The following table represents
the net currency exposure (net carrying amount of foreign denominated monetary assets and liabilities) of the Group according to the
different foreign currencies.
1,475
1,555
1,567
South United
African Pound States
Rand Euro Sterling Dollar Other
Rm Rm Rm Rm Rm
2009
Net foreign currency monetary assets/(liabilities)
Functional currency of company operation
South African rand – 204 – 650 19
Naira – – – (1,611) –
2008
Net foreign currency monetary assets/(liabilities)
Functional currency of company operation
South African Rand – 481 (133) 224 (13)
United States Dollar – 8 – – (17)
Naira – – – (446) –