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BP » Topics » Currency exchange rate risk

This excerpt taken from the BP 20-F filed Jun 13, 2006.

Currency exchange rate risk

        The monetary assets and monetary liabilities of the Group in currencies other than in the functional currency of individual operating units are summarized below. These currency exposures arise from normal trading activities.

 
   Net foreign currency monetary assets (liabilities)
 
 
   US dollar
  Sterling
  Euro
  Other
  Total
 
 
   ($ million)
 
At December 31, 2004                      
US dollar   —   374   2   (942 ) (566 )
Sterling   314   —   380   66   760  
Other   (269 ) (51 ) (25 ) (237 ) (582 )
   
 
 
 
 
 
    45   323   357   (1,113 ) (388 )
   
 
 
 
 
 
At December 31, 2003                      
US dollar   —   191   (24 ) 39   206  
Sterling   67   —   308   34   409  
Other   (1,148 ) (25 ) (27 ) (131 ) (1,331 )
   
 
 
 
 
 
    (1,081 ) 166   257   (58 ) (716 )
   
 
 
 
 
 

        In accordance with its policy for managing its foreign exchange rate risk, the Group enters into various types of foreign exchange contracts, such as currency swaps, forwards and options. The fair values and carrying amounts of these derivatives are shown in the fair value table in Note 29.

F - 46


This excerpt taken from the BP 20-F filed Jun 30, 2005.

Currency exchange rate risk

        The monetary assets and monetary liabilities of the Group in currencies other than in the functional currency of individual operating units are summarized below. These currency exposures arise from normal trading activities.

 
   Net foreign currency monetary assets (liabilities)
 
 
   US dollar
  Sterling
  Euro
  Other
  Total
 
 
   ($ million)
 
At December 31, 2004                      
US dollar   —   374   2   (942 ) (566 )
Sterling   314   —   380   66   760  
Other   (269 ) (51 ) (25 ) (237 ) (582 )
   
 
 
 
 
 
    45   323   357   (1,113 ) (388 )
   
 
 
 
 
 
At December 31, 2003                      
US dollar   —   191   (24 ) 39   206  
Sterling   67   —   308   34   409  
Other   (1,148 ) (25 ) (27 ) (131 ) (1,331 )
   
 
 
 
 
 
    (1,081 ) 166   257   (58 ) (716 )
   
 
 
 
 
 

        In accordance with its policy for managing its foreign exchange rate risk, the Group enters into various types of foreign exchange contracts, such as currency swaps, forwards and options. The fair values and carrying amounts of these derivatives are shown in the fair value table in Note 29.

F - 47


EXCERPTS ON THIS PAGE:

20-F
Jun 13, 2006
20-F
Jun 30, 2005

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