Currency risk is defined as the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates. The Group is exposed to the effects of fluctuations in the prevailing foreign currency exchange rates on its financial position and cash flows.
The Group controls currency risk by management of the open currency position. The Treasure Department performs daily monitoring of the Group’s open currency position.
The Group’s exposure to foreign currency exchange rate risk is presented in the table below:
PUBLIC FUND “ASIAN CREDIT FUND” Notes to the consolidated financial statements
For the year ended 31 December 2009
(in Kazakhstani Tenge and in thousands, unless otherwise stated)