MCCU Annual Report - page 87

87
31. Financial Instruments and Financial Instruments Risk Management (cont'd):
c) Market Risk (cont'd.)
i) Foreign currency risk (cont'd)
2013
2012
2013
2012
%
%
J$
J$
Liquid Assets - earning
United States dollar
3
3
411,637
1,558,428
Canadian dollar
-1
2
(65,917)
59,896
Pound Sterling
4
-3
94,607
(138,553)
Financial Investments
United States dollar
3
3
3,319,519
1,868,936
The analysis assumes that all other variables, in particular, interest rates, remain constant. The analysis is
performed on the same basis for 2012.
MANCHESTER CO-OPERATIVE CREDIT UNION (1977) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST DECEMBER 2013
Movement
There were significant foreign exchange rate movements in the three major currencies during the period
December 2012 to December 2013. Over the twelve months ended 31st December 2013, the exchange rate
movement for the Canadian dollar, Pound Sterling and United States dollar have shown overall increases of
8.12%, 17.60% and 14.95% respectively. The Credit Union's assets held in these currencies are minimal in
comparison to total assets and therefore consequential adjustments would not be considered significant.
The strengthening/weakening of the Jamaican dollar to the extent shown against each currency would have
reduced/increased income and equity by the amounts shown.
MANCHESTER CO-OPERATIVE CREDIT UNION
ANNUAL REPORT 2013
I...,77,78,79,80,81,82,83,84,85,86 88,89,90,91,92,93,94,95,96,97,...126
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