Sasol finalises currency hedges worth $4bn

Energy and chemicals group Sasol reported on Tuesday that it had finalised currency hedges with a total notional amount of $4-billion for its 2018 financial year. The hedges represent about 70% of its expected net rand/US dollar exposure for the period, which runs until June 30, 2018. The programme is based on zero-cost collar instruments, using a yearly average floor of R13.46 to the dollar and an annual average cap of R15.51.