Notes to the Financial Statements PTT Global Chemical Public Company Limited and its Subsidiaries Notes to the financial statements For the year ended 31 December 2023 106 The following tables detail the foreign currency forward contracts outstanding at the reporting date for their hedged items. Foreign currency forward contract assets and liabilities are presented in the line “Derivatives” (either as asset or as liabilities) within the statement of financial position. - Consolidated financial statements - o Average exchange rate Notional value: Foreign currency Notional value: Local currency Carrying amount of the hedging instruments assets (liabilities) (rate) (million foreign currency) (million Baht) (million Baht) At 31 December 2023 Cash flow hedges Sell (USD) 35.23 26 916 34 At 31 December 2022 Cash flow hedges Buy (USD) 31.15 9 289 27 - Separate financial statements - o Average exchange rate Notional value: Foreign currency Notional value: Local currency Carrying amount of the hedging instruments assets (liabilities) (rate) (million foreign currency) (million Baht) (million Baht) At 31 December 2022 Cash flow hedges Buy (USD) 31.15 9 289 27 The Group assesses effectiveness by comparing the nominal amount of the net assets designated in the hedge relationship with the nominal amount of the hedging instruments. This is a simplified approach because the currency of the exposure and hedging instruments perfectly match and the company identified that there was no change in fair value for hedge ineffectiveness recognized in the income statement. (b.3.2) Interest rate risk Interest rate risk is the risk that future movements in market interest rates will affect the results of the Group’s operations and its cash flows because the Group’s finances loans which have both floating and fixed interest rates for their operations. The Group has managed this risk to ensure the appropriateness to the business operation. The effective interest rates of interest-bearing liabilities as at 31 December 2023 and 2022 and the periods in which those liabilities mature or re-price were disclosed in note 17 to the financial statement. 350
RkJQdWJsaXNoZXIy ODg4NTI=