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Note 10

Derivative financial instrument

Tourism New Zealand uses foreign exchange instruments in order to manage its exposure to fluctuations in foreign currency exchange

rates on normal operating activities. The instruments are matched with anticipated future cash flows in foreign currencies. Tourism

New Zealand does not use financial instruments for speculative purposes. At balance date Tourism New Zealand had 80 (2015: 78)

foreign exchange contracts maturing at various dates over the next 24 months. The contracts are financial assets at fair value through

profit or loss and designated as held for trading financial instruments with fair value gains or losses recognised in the Statement of

Comprehensive Revenue and Expense.

Foreign currency forward exchange contracts:

Group

Parent

2016

$000s

2015

$000s

2016

$000s

2015

$000s

Foreign exchange contracts at 30 June — Sell Value

76,590

70,470

76,590

70,470

Fair value Derivatives in Gain/(Loss)

(1,633)

6,770

(1,633)

6,770

Foreign exchange contracts at 30 June — Buy Value

74,957

77,240

74,957

77,240

Foreign exchange contracts by currency:

United States Dollar

33,010

31,306

33,010

31,306

British Pound

5,208

4,680

5,208

4,680

Australian Dollar

26,620

33,441

26,620

33,441

European Euro

3,893

-

3,893

-

Japanese Yen

3,843

4,746

3,843

4,746

Thai Baht

-

404

-

404

Singapore Dollar

2,383

2,664

2,383

2,664

Hong Kong Dollar

-

-

-

-

74,957

77,241

74,957

77,241

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