Page 56 - Annual Report 2019
P. 56

53  ANNUAL REPORT 2019                                                                                                  SUPERVISION AND AUTHORISATION






            2. Foreign exchange exposures (net open position)












         Millions















                 DEC  JAN  FEB  MAR  APR  MAY  JUN  JUL  AUG  SEP  OCT  NOV  DEC  JAN  FEB  MAR  APR  MAY  JUN  JUL  AUG  SEP  OCT  NOV  DEC

                 2017                        2018                                              2019


            The overall net open position in foreign currencies was modest at year-end 2019. The largest   EUR  USD-pegged  RMB  INR
            currency exposure emanated from USD-pegged currencies followed by the Indian Rupee   JPY  GBP    Other
            (“INR”).  Historically, exposure to Turkish Lira (included in “Other”), represented a dominant
            currency exposure sourced from Turkey-domiciled investments. The residual currency exposure
            to Turkish Lira at year-end 2019, however, was greatly diminished in comparison to prior years.
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