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Whitehaven Coal Limited : Annual Report 2008
Whitehaven Coal Limited - Annual Report 2008 NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2008 28. FINANCIAL INSTRUMENTS (CONTINUED) Currency risk Exposure to currency risk The consolidated entity’s gross balance sheet exposure to foreign currency risk at balance date was as follows, based on notional amounts: In thousands of AUD Cash USD 30 June 2008 3,811 Trade and other receivables Unsecured loan from related parties Trade and other payables Finance Lease liabilities Gross balance sheet exposure USD 30 June 2007 4,450 36,093 3,614 – (20,350) (10,424) Currency risk exposure arising from derivative financial instruments is disclosed in note 17. The Company’s exposure to foreign currency payable risk was AUD148,037,000/EUR 90,244,000 (2007: AUD142,994,000/EUR 90,244,000). The following significant exchange rates applied during the year: Average rate AUD USD EUR 2008 0.9038 – 2007 0.7857 – Reporting date spot rate 2008 0.9626 0.6096 2007 0.8487 0.6311 (31,144) (2,404) (15,073) 9,130 (40,557) 73
Annual Report 2009