10. Foreign exchange gains/(losses)
Zasady rachunkowości
Foreign exchange gains (losses) comprise foreign exchange gains and losses, both realized and unrealized, resulting from valuation of assets and liabilities denominated in foreign currencies and from the fair value valuation of foreign currency derivatives (FX forward, FX swap, CIRS and currency options). In the case of the hedging strategies in which CIRS contracts are the hedging instrument, this item also includes the ineffective portion of cash flow hedges.
2019
Impairment charges for loans, advances and other foreign currency-denominated receivables, which are recorded in PLN, are remeasured when the measurement of the underlying foreign currency-denominated assets changes. The effect of such remeasurement is recognized in foreign exchange gains/losses.
Financial information
| NET FOREIGN EXCHANGE GAINS/ (LOSSES) | 2019 | 2018 |
|---|---|---|
| Net foreign exchange gains/(losses), of which: | 473 | 489 |
| ineffective portion of cash flow hedges | (22) | 12 |
| Total | 473 | 489 |