Reserve Bank of Australia Annual Report – 1980 Financial Statements Exchange Valuation Adjustments

Note 6 Exchange valuation adjustments

Exchange valuation adjustments on assets and liabilities denominated in foreign currencies resulted in a net deficit of $62.6 million in 1979/80 ($104.7 million net surplus in 1978/79); the 1979/80 adjustment includes surplus on deliveries of forward exchange contracts of $14.5 million ($7.1 million surplus in 1978/79). Outstanding forward exchange contracts with the Bank at 30 June 1980 would, if exchange rates ruling at that date were in effect at the time of delivery under the contracts, result in a net surplus of some $40.9 million.