| NOTES TO THE FINANCIAL STATEMENTS l NOTE 15 |
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15. |
Foreign currency translation reserve |
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The foreign currency translation reserve arose from the conversion of Hyprop Investments (Mauritius) Limited and African Land
Investments Limited from their functional currency, US dollars, to South African rand on consolidation. Refer to note 5. |
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GROUP
June 2014
R000 |
|
GROUP
June 2013
R000 |
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COMPANY
June 2014
R000 |
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COMPANY
June 2013
R000 |
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| Opening balance |
313 |
|
(6) |
|
|
|
|
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| Movement |
8 894 |
|
319 |
|
|
|
|
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| Non-controlling interest |
(1 133) |
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|
|
|
|
|
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| Closing balance |
8 074 |
|
313 |
|
|
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The closing exchange rate at 30 June 2014 was R10,58:USD1 (30 June 2013: R9,87:USD1) and the average exchange rate for the 12 months
ended 30 June 2014 was R10,37:USD1 (2013: R9,2:USD1).
The average rate for the period from the acquisition of African Land to year-end was R10,66:USD1.
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| NOTES TO THE FINANCIAL STATEMENTS l NOTE 15 |
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