1.4 EXCHANGE RATES
As indicated above, Ferrovial carries out transactions outside the eurozone through various subsidiaries. The exchange rates used to translate their financial statements for their inclusion in the consolidated Group’s consolidated financial statements are as follows:
Items in the balance sheets (exchange rates at 31 December 2016 and at 31 December 2015 for the comparative figures):
Closing exchange rate |
2016 |
2015 |
Change 16/15 (*) |
||
|
|||||
Pound sterling |
0.8545 |
0.7375 |
15.86% |
||
US dollar |
1.0547 |
1.0866 |
-2.94% |
||
Canadian dollar |
1.4185 |
1.5026 |
-5.60% |
||
Australian dollar |
1.4615 |
1.4906 |
-1.95% |
||
Polish zloty |
4.4046 |
4.2659 |
3.25% |
||
Chilean peso |
705.71 |
769.98 |
-8.35% |
||
Items in the statements of profit or loss and statements of cash flows (cumulative average rates at 31 December 2016 and at 31 December 2015 for the comparative figures):
Average exchange rate |
2016 |
2015 |
Change 16/15 (*) |
||
|
|||||
Pound sterling |
0.8230 |
0.7237 |
13.72% |
||
US dollar |
1.1034 |
1.1032 |
0.01% |
||
Canadian dollar |
1.4590 |
1.4233 |
2.51% |
||
Australian dollar |
1.4853 |
1.4802 |
0.34% |
||
Polish zloty |
4.3606 |
4.1800 |
4.32% |
||
Chilean peso |
742.4625 |
727.7625 |
-2.02% |
||
The main change in the year was the depreciation of the pound sterling prompted by the decision to leave the European Union taken in the UK referendum held on 23 June 2016 (Brexit).
Note 5.4 also contains an in-depth analysis of the impact that Brexit has had or might have in the future vis-à-vis the different financial risks affecting Ferrovial. This perspective is complemented by a global analysis of Brexit in the Risks section of the directors’ report.