Download PDF version - Munich Re
Download PDF version - Munich Re
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<strong>Munich</strong> <strong>Re</strong> Group Notes on the accounts<br />
Liabilities Liabilities are stated at the amount repayable.<br />
Currency translation For the translation of foreign currencies, the exchange rates at the yearend<br />
are used in each case.<br />
<strong>Re</strong>alized exchange gains and realized and unrealized exchange losses are<br />
included under “Other income” and “Other expenditure” respectively;<br />
unrealized exchange gains are eliminated through the formation of an<br />
appropriate provision.<br />
The exchange rates of the most important currencies for us developed as<br />
follows:<br />
63<br />
31.12.1995 31.12.1994<br />
DM DM<br />
Australian dollar 1.07 1.20<br />
Canadian dollar 1.05 1.10<br />
Dutch guilder 0.89 0.89<br />
French franc 0.29 0.29<br />
Italian lira 0.00090 0.00095<br />
Pound sterling 2.21 2.42<br />
Rand 0.39 0.44<br />
Swiss franc 1.25 1.18<br />
US dollar 1.43 1.55<br />
Yen 0.014 0.016
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