All derivative financial instruments held for currency risk hedging purposes have a maturity of less than 18 months at inception and break down as follows:
| Nominal | Market value | |||||
|---|---|---|---|---|---|---|
| € millions | 31.12.2024 | 31.12.2023 | 31.12.2022 | 31.12.2024 | 31.12.2023 | 31.12.2022 |
| Currency futures | ||||||
| Purchase of EURO against foreign currencies | 4,322.6 | 4,724.1 | 2,991.9 | (83.9) | 40.7 | 17.4 |
| EUR/CNY | 1,211.1 | 1,414.5 | 629.7 | (23.6) | 44.4 | 24.7 |
| EUR/SGD | 528.6 | 746.9 | 750.9 | (14.7) | (0.1) | (12.6) |
| EUR/GBP | 479.2 | 410.0 | 231.0 | (16.0) | (6.9) | 3.6 |
| EUR/USD | 447.3 | 505.8 | 197.6 | (36.9) | 9.8 | 3.7 |
| EUR/MXN | 237.2 | 266.3 | 249.2 | 11.5 | (8.4) | (5.7) |
| EUR/BRL | 171.1 | 205.9 | 171.3 | 15.1 | (3.7) | 1.2 |
| EUR/CAD | 161.4 | 148.2 | 46.0 | 0.2 | 0.1 | 8.5 |
| EUR/AUD | 147.9 | 188.6 | 143.3 | 4.2 | (1.9) | 3.6 |
| EUR/CLP | 96.3 | 87.5 | 91.6 | 0.8 | 3.1 | (5.9) |
| EUR/DKK | 74.3 | 105.4 | 60.6 | 0.1 | 0.2 | — |
| EUR/SAPMENA currencies | 244.7 | 191.3 | 182.9 | (11.0) | 1.7 | 5.3 |
| EUR/Europe currencies | 212.8 | — | 15.3 | (5.8) | — | (13.1) |
| EUR/North Asia currencies | 203.0 | 359.0 | 154.8 | (4.3) | 4.6 | 1.0 |
| EUR/Latin America currencies | 54.8 | 54.7 | 38.5 | (3.1) | (1.3) | 2.6 |
| EUR/SSA currencies | 52.9 | 40.0 | 29.1 | (0.4) | (0.9) | 0.5 |
| Sale of EUR against foreign currencies | — | 56.0 | — | — | (3.9) | — |
| EUR/ Europe | — | 56.0 | — | — | (3.9) | — |
| Purchase of USD against foreign currencies | 503.4 | 471.1 | 637.5 | 28.5 | 1.3 | (5.1) |
| USD/North Asia currencies | 189.3 | 284.4 | 363.4 | 7.6 | 1.3 | 1.1 |
| USD/Latin America currencies | 186.6 | 127.3 | 183.0 | 15.4 | 0.6 | (8.9) |
| USD/CAD | 121.3 | 51.6 | 85.9 | 5.2 | (0.3) | 2.9 |
| USD/SSA currencies | 6.2 | 7.8 | 5.2 | 0.2 | (0.2) | (0.2) |
| Sale of USD against foreign currencies | 909.2 | 1,101.9 | 1,924.8 | (27.2) | 7.9 | 81.9 |
| USD/SAPMENA currencies | 860.2 | 1,075.5 | 1,916.7 | (26.1) | 7.4 | 83.3 |
| USD/Other currencies | 49.0 | 26.4 | 8.0 | (1.1) | 0.5 | (1.4) |
| Other currency pairs | 789.8 | 772.4 | 1,014.2 | (7.3) | (8.7) | (2.1) |
| CNY / SGD | 153.7 | 193.7 | 309.0 | 0.2 | (6.1) | (8.1) |
| DKK / SEK | 95.4 | 76.8 | 76.5 | (0.8) | (3.1) | 2.0 |
| KRW / JPY | 50.8 | 46.6 | 47.6 | (2.1) | 1.3 | 1.3 |
| Other currency pairs | 489.9 | 455.2 | 581.2 | (4.6) | (0.7) | 2.7 |
| CURRENCY FUTURES TOTAL | 6,525.0 | 7,125.5 | 6,568.3 | (89.9) | 37.3 | 92.2 |
| Currency options | ||||||
| EUR/USD | 260.4 | — | — | 2.9 | — | — |
| CURRENCY OPTIONS TOTAL | 260.4 | — | — |
2.9 |
— | — |
| Of which total options purchased | 260.4 | — | — | 2.9 | — | — |
| Other hedging elements | ||||||
| Cross Currency Swap | 1,554.1 | 1,620.1 | 604.2 | 4.8 | 13.5 | (1.3) |
| OTHER ELEMENTS TOTAL | 1,554.1 | 1,620.1 | 604.2 |
4.8 |
13.5 | (1.3) |
| TOTAL | 8,339.5 | 8,745.6 | 7,172.6 | (82.1) | 50.8 | 90.9 |
