Reserve Bank of Australia Annual Report – 1976 Financial Statements Note 8 Exchange valuation gains
| 1976 $'000 |
1975 $'000 |
|||
|---|---|---|---|---|
| Exchange valuation gain (loss) on holdings | ||||
| – Devaluation of Australian dollar September 1974 | – | 352,542 | ||
| – End of year valuation of holdings to market rates of exchange | 130,899 | 130,899 | (21,495) | 331,047 |
| Gain (loss) on deliveries of forward contracts | (4,439) | (121,593) | ||
| Net gain transferred in reduction of unfunded adjustments arising from fluctuations in exchange rates | 126,240 | 09,454 | ||
Outstanding forward exchange contracts with the Bank at 30 June 1976 would, if exchange rates ruling at that date were in effect at the time of delivery under the contracts, result in a net gain of some $17 million.