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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 92 (2016: 80)

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

2017

$000s

2016

$000s

2017

$000s

2016

$000s

Foreign exchange contracts at 30 June — Sell Value

75,180

76,590

75,180

76,590

Fair value Derivatives in Gain / (Loss)

(1,280)

(1,633)

(1,280)

(1,633)

Foreign exchange contracts at 30 June — Buy Value

73,900

74,957

73,900

74,957

Foreign exchange contracts by currency:

United States Dollar

35,466

33,010

35,466

33,010

British Pound

5,516

5,208

5,516

5,208

Australian Dollar

22,000

26,620

22,000

26,620

European Euro

4,228

3,893

4,228

3,893

Japanese Yen

4,168

3,843

4,168

3,843

Singapore Dollar

2,523

2,383

2,523

2,383

73,900

74,957

73,900

74,957

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