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Currency translation

Foreign-currency transactions are translated into the functional currency at the exchange rate at the date of transaction. At the reporting date, monetary items are translated at the closing rate, and non-monetary items are translated at the exchange rate at the date of transaction. Exchange rate differences are recognized in profit or loss.

The assets and liabilities of Group entities whose functional currency is not the euro are translated into euros from the local currency using the middle rates at the reporting date. The income statements and corresponding profit or loss of foreign-currency denominated Group entities are translated at monthly average exchange rates for the period. The differences that arise from the use of both rates are recognized directly in equity.

The exchange rates of certain significant currencies changed as follows:

 

 

 

 

 

 

Annual average rate

Rate at the reporting date

 

 

 

 

 

 

 

2021

2020

2019

Dec. 31, 2021

Dec. 31, 2020

100 Czech korunas (CZK)

3.89888

3.78060

3.89551

4.02124

3.81076

100 Croatian kuna (HRK)

13.28220

13.26560

13.48050

13.30760

13.24500

1,000 Hungarian forints (HUF)

2.78908

2.84691

3.07429

2.70845

2.74454

100 Macedonian denars (MKD)

1.62324

1.62187

1.62726

1.62339

1.62246

100 Polish zlotys (PLN)

21.90100

22.51210

23.26470

21.75600

21.93370

1 U.S. dollar (USD)

0.84568

0.87553

0.89326

0.88285

0.81510