Currency translation


Transactions in foreign currency are translated in the single-entity financial statements of Volkswagen AG and its consolidated subsidiaries at the rates prevailing at the transaction date. Foreign currency monetary items are recorded in the balance sheet using the middle rate on the balance sheet date. Foreign exchange gains and losses are recognized in the income statement. The financial statements of foreign companies are translated into euros using the functional currency concept. Asset and liability items are translated at the closing rate. With the exception of income and expenses recognized directly in equity, equity is translated at historical rates. The resulting foreign exchange differences are taken directly to equity until disposal of the subsidiary concerned, and are presented as a separate item in equity.

Income statement items are translated into euros at weighted average rates using the modified closing rate method. The rates applied are presented in the following table:

 Download

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance sheet
Middle rate on December 31,

 

Income statement
Average rate

 

 

1 € =

 

2009

 

2008

 

2009

 

2008

*

The euro was introduced as of January 1, 2009.

Argentina

 

ARS

 

5.46811

 

4.80624

 

5.21069

 

4.63951

Australia

 

AUD

 

1.60080

 

2.02740

 

1.77270

 

1.74162

Brazil

 

BRL

 

2.51130

 

3.24360

 

2.76742

 

2.67428

Canada

 

CAD

 

1.51280

 

1.69980

 

1.58496

 

0.79628

Czech Republic

 

CZK

 

26.47300

 

26.87500

 

26.43491

 

63.59206

India

 

INR

 

67.04000

 

67.39307

 

67.34999

 

152.45406

Japan

 

JPY

 

133.16000

 

126.14000

 

130.33660

 

1.55942

Mexico

 

MXN

 

18.92230

 

19.23330

 

18.79886

 

16.29157

People’s Republic of China

 

CNY

 

9.83500

 

9.49560

 

9.52771

 

10.22361

Poland

 

PLN

 

4.10450

 

4.15350

 

4.32762

 

3.51210

Republic of Korea

 

KRW

 

1,666.97000

 

1,839.13000

 

1,772.90387

 

1,606.08719

Russia

 

RUB

 

43.15400

 

41.28300

 

44.13764

 

36.42072

Slovak Republic*

 

SKK

 

 

30.12600

 

 

31.26167

South Africa

 

ZAR

 

10.66600

 

13.06670

 

11.67366

 

12.05899

Sweden

 

SEK

 

10.25200

 

10.87000

 

10.61905

 

9.61524

United Kingdom

 

GBP

 

0.88810

 

0.95250

 

0.89094

 

0.79628

USA

 

USD

 

1.44060

 

1.39170

 

1.39482

 

1.47103

Top
Deutsch | English
Download Manager
Collect files for a combined download.
Compare Key Figures
Create your personal overview of important key figures.