China Communications Services Corporation Limited Annual Report 2015
151
NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS
For the year ended 31 December 2015
40. FINANCIAL RISK MANAGEMENT AND FAIR VALUES
(continued)
(d) Currency risk
(continued)
Exposure to currency risk
(continued)
The following significant exchange rates applied during the year:
Average rate
Spot rate
2015
2014
2015
2014
United States dollars
6.31
6.11
6.49
6.12
Hong Kong dollars
0.81
0.79
0.84
0.79
Nigerian Naira
0.03
0.04
0.03
0.04
Saudi Arabian Riyal
1.68
1.63
1.73
1.63
Ethiopian Birr
0.31
0.31
0.31
0.31
Sensitivity analysis
The following table indicates the instantaneous change in the Group’s profit after tax (and retained profits) and other
components of consolidated equity that would arise if foreign exchange rates to which the Group has significant
exposure at the end of the reporting period had changed at that date, assuming all other risk variables remained
constant.
2015
2014
Strengthen/
(weaken)
in foreign
exchange
rate
Effect on
profit after
tax and
retained
profits
Effect on
other
components
of equity
Strengthen/
(weaken)
in foreign
exchange
rate
Effect on
profit after
tax and
retained
profits
Effect on
other
components
of equity
RMB’000 RMB’000
RMB’000 RMB’000
United States dollars
5% (7,335)
—
5% (8,116)
—
(5)% 7,335
—
(5)% 8,116
—
Hong Kong dollars
5% 1,974
—
5% 1,582
—
(5)% (1,974)
—
(5)% (1,582)
—
Nigerian Naira
5% 1,828
—
5% 3,276
—
(5)% (1,828)
—
(5)% (3,276)
—
Saudi Arabian Riyal
5% 4,354
—
5% 2,891
—
(5)% (4,354)
—
(5)% (2,891)
—
Ethiopian Birr
5% 162
—
5% 1,146
—
(5)% (162)
—
(5)% (1,146)
—
