10 Foreign exchange and exchange rates.


Profit for the year includes foreign exchange gains on financial instruments. The gain for the year also includes foreign exchange losses of £10m (2008: gains of £11m) arising on conversion of monetary assets and liabilities to functional currencies.

Principal rates of exchange used for translation are:

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01.01.09-
31.12.09
Average

2009
Year end

01.01.08-
31.12.08
Average

2008
Year end

US Dollar

1.57

1.62

1.85

1.44

Euro

1.12

1.13

1.26

1.03

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