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2016 REGISTRATION DOCUMENT
HERMÈS INTERNATIONAL
191
CONSOLIDATED FINANCIAL STATEMENTS
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
22.2.3 Analysis of currency agreements
In millions of euros
Nominal amounts
of derivatives
Nominal amounts
of derivatives used
to hedge foreign
exchange risk
Market value of the contracts as at 31 December 2016
1
Future cash
flow hedge Fair value hedge
Unallocated
Total
Options purchased
US
dollar put
36.5
36.5
0.5
0.5
US dollar collar
182.7
182.7
(1.8)
(1.8)
Chinese
yuan put
12.6
12.6
0.8
0.8
Chinese yuan collar
82.0
82.0
4.1
4.1
Japanese
yen put
22.7
22.7
1.2
1.2
Japanese yen collar
100.5
100.5
3.2
3.2
Singapore
dollar put
20.4
20.4
0.6
0.6
Singapore dollar collar
132.5
132.5
2.7
2.7
Hong
Kong dollar put
23.5
23.5
0.4
0.4
Hong Kong dollar collar
117.5
117.5
(0.9)
(0.9)
730.8
730.8
10.7
-
-
10.7
Forward currency agreements
2
US dollar
164.2
178.4
(7.3)
(0.2)
(7.5)
Yuan
98.1
98.1
(0.6)
0.0
(0.6)
Yen
114.7
114.7
2.8
0.0
2.8
Singapore dollar
55.2
56.5
(4.5)
0.0
(4.5)
Hong Kong dollar
54.6
54.6
(6.9)
(0.1)
(7.0)
Pound sterling
79.3
79.3
4.5
0.0
4.5
Euro
3
58.8
58.8
1.5
1.5
Swiss franc
35.1
35.1
(0.5)
0.0
(0.5)
Canadian dollar
35.0
35.0
(1.4)
(0.0)
(1.4)
Thai baht
21.9
21.9
(1.1)
(1.1)
Rouble
21.9
21.9
(3.6)
0.0
(3.6)
South Korean won
(10.0)
(10.0)
0.1
(0.0)
0.1
Australian dollar
23.6
23.6
(0.6)
-
(0.6)
Others
31.1
31.1
(1.0)
(0.1)
(1.1)
783.5
799.1
(18.5)
-
(0.3)
(18.9)
Currency swaps
2
US dollar
(0.6)
(24.2)
(1.7)
(0.3)
(2.0)
Yuan
89.2
88.6
(0.4)
(0.0)
(0.4)
Yen
16.8
16.8
0.1
-
0.1
Singapore dollar
40.7
40.7
0.2
0.0
0.2
Hong Kong dollar
(73.2)
(73.4)
(0.4)
(0.0)
(0.4)
Pound sterling
(22.8)
(22.8)
(0.5)
-
(0.5)
Euro
3
9.1
10.9
(0.1)
0.0
(0.0)
Swiss franc
9.8
9.8
(0.0)
0.0
(0.0)
Canadian dollar
3.7
3.5
0.1
0.0
0.1
Thai baht
3.5
3.5
(0.0)
-
(0.0)
Rouble
3.9
3.9
(0.1)
-
(0.1)
Australian dollar
2.7
2.6
0.1
0.0
0.1
Others
0.5
0.5
(0.0)
-
(0.0)
83.3
60.4
(2.7)
-
(0.3)
(3.0)
TOTAL
1,597.6
1,590.3
(10.6)
-
(0.6)
(11.2)
(1) Gain/(Loss).
(2) Sale/(Purchase).
(3) Euro foreign exchange risk for subsidiaries having a different functional currency.