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INFY » Topics » 2.19 Derivative financial instruments

This excerpt taken from the INFY 6-K filed Jul 28, 2005.

2.17    Derivative financial instruments

                 The company uses derivative financial instruments such as foreign exchange forward and option contracts to mitigate the risk of changes in foreign exchange rates on accounts receivable and forecasted cash flows denominated in certain foreign currencies. The counterparty for these contracts is generally a bank. Infosys held foreign exchange forward contracts of $353 million and $261 million as of March 31, 2005 and June 30, 2005 respectively. The foreign exchange forward contracts mature between one to 12 months. The company held foreign currency option contracts of $33 million as of June 30, 2005.

This excerpt taken from the INFY 20-F filed Apr 26, 2005.

2.19 Derivative financial instruments

 

The company enters into foreign exchange forward contracts where the counterparty is generally a bank. The company considers the risks of non-performance by the counter party as non-material. Infosys held foreign exchange forward contracts of $149 million and $353 million as of March 31, 2004 and 2005, respectively. The foreign exchange forward contracts mature between one to 12 months.

 

EXCERPTS ON THIS PAGE:

6-K
Jul 28, 2005
20-F
Apr 26, 2005

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