Reserve Bank of Australia Annual Report – 1983 Financial Statements Exchange Valuation Adjustments

Note 7 Exchange valuation adjustments

Exchange valuation adjustments on assets and liabilities denominated in foreign currencies resulted in a net surplus of $454.9 million in 1982/83 ($93.6 million net surplus in 1981/82); the 1982/83 adjustment includes a deficit for Central Banking Business on deliveries of forward exchange contracts of $68.0 million ($43.1 million deficit in 1981/82). Outstanding forward exchange contracts with the Bank at 30 June 1983 would, if exchange rates ruling at that date were in effect at the time of delivery under the contracts, result in a net deficit of some $7.9 million.