The above rates may be used in your QMR submission but are not compulsory, i.e. you may use your own rates but they should not be materially different from those in the table.
US dollars Canadian dollars Euro Australian dollar Danish krone Hong Kong dollar Japanese yen New Zealand dollar Norwegian krone Singapore dollar South African rand Swedish krona Swiss franc
The settlement currency rates as at 31 March 2009 (balance sheet) and the average currency rates (profit and loss account) over the three month period to 31 March 2009 are as follows (to the £):
Rates of Exchange
As noted in the main body of the bulletin, the Q1 2009 return is the first to include a number of data checks in form QMB105. At Q1 the checks will be warnings but the intention is to upgrade these to validations at Q2.
One of the checks is to ensure that the dollar rate used to derive the CNV figure is within acceptable limits (CNV is the total of the values in GBP and USD (converted into GBP)). This check will use the period end US$ rate that is reported in form QMB010. The software will initially pick up the period end US$ rate shown but if a syndicate uses a different period end US$ rate then it is possible to overwrite the cell in QMB010. This test will have a tolerance of 50% <= dollar rate in QMB010 <= 200%. If the period end rate reported in QMB010 is the 1.43 in the table above the tolerance will be between 0.72 and 2.86.
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