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This excerpt taken from the SYT 20-F filed Mar 1, 2006. (iii) Translational foreign currency exposures on monetary items Balance sheet translational exposures in foreign subsidiaries are hedged by the use of forward contracts. This focuses on risk reduction for monetary items. The notional value of outstanding forward contracts at December 31, 2005 was US$1.1 billion. Value-at-risk methodologies are currently being developed to further support this risk management activity. |
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