Annual Report 2019

226 Transport International Holdings Limited 2019 Annual Report Notes to the Financial Statements (Expressed in Hong Kong dollars unless otherwise indicated) 31 Financial risk management and fair values of financial instruments (continued) (d) Currency risk (continued) (i) Exposure to currency risk The table below details the Group’s exposure at the end of the reporting period to currency risk arising from recognised assets or liabilities denominated in a currency other than the functional currency of the entity to which they relate. For presentation purposes, the amounts of the exposure are shown in Hong Kong dollars, translated using the spot rate at the end of the reporting period. Differences resulting from the translation of the financial statements of operations outside Hong Kong into the Group’s presentation currency are excluded. Exposure to foreign currencies (expressed in Hong Kong dollars) 2019 2018 Renminbi British Pounds Sterling United States dollars Renminbi British Pounds Sterling United States dollars $’ 000 $’ 000 $’ 000 $’ 000 $’ 000 $’ 000 Bank deposits and cash 2,924 100,731 209,612 2,032 73,113 198,664 Accounts payable and accruals – (90,764) (5,563) – (35,877) (3,141) Investments in debt securities – – 1,449,970 – – 1,428,069 Gross exposure arising from recognised assets and liabilities 2,924 9,967 1,654,019 2,032 37,236 1,623,592 Notional amount of forward foreign exchange contracts used as economic hedge – – – – – – Net exposure arising from recognised assets and liabilities 2,924 9,967 1,654,019 2,032 37,236 1,623,592 Highly probable future purchases – – – – (101,887) – Notional amount of forward foreign exchange contracts used as cash flow hedge – – – – 100,541 – Net exposure arising from committed future purchases – – – – (1,346) – Overall net exposure 2,924 9,967 1,654,019 2,032 35,890 1,623,592