AMERICA MOVIL SAB DE CV/ (ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory)

p) Transactions in foreign currency

Transactions in foreign currency are initially recorded at the prevailing exchange rate at the time of the related transactions. Foreign currency denominated assets and liabilities are subsequently translated at the prevailing exchange rate at the financial statement reporting date. Exchange differences determined from the transaction date to the time foreign currency denominated assets and liabilities are settled or translated at the financial statement reporting date are charged or credited to the results of operations.

The exchange rates used for the translation of foreign currencies against the Mexican peso are as follows:


		Average exchange rate						Closing exchange rate at December 31,
Country or Zone	Currency	2015		2016		2017		2016		2017
Argentina⁽¹⁾	Argentine Peso (AR$)		1.7152		1.2632		1.1489		1.3047		1.0610
Brazil	Real (R$)		4.8068		5.3868		5.9346		6.3611		5.9815
Colombia	Colombian Peso (COP$)		0.0058		0.0061		0.0064		0.0069		0.0066
Guatemala	Quetzal		2.0704		2.4548		2.5755		2.7561		2.6940
U.S.A. ⁽²⁾	US Dollar		15.8504		18.6529		18.9400		20.7314		19.7867
Uruguay	Uruguay Peso		0.5810		0.6206		0.6606		0.7066		0.6869
Nicaragua	Cordoba		0.5813		0.6515		0.6307		0.7071		0.6428
Honduras	Lempira		0.7171		0.8109		0.8007		0.8759		0.8330
Chile	Chilean Peso		0.0243		0.0276		0.0292		0.0310		0.0322
Paraguay	Guaraní		0.0031		0.0033		0.0034		0.0036		0.0035
Peru	Sol (PEN$)		4.9746		5.5232		5.8054		6.1701		6.0976
Dominican Republic	Dominican Peso		0.3515		0.4048		0.3983		0.4438		0.4095
Costa Rica	Colon		0.0293		0.0338		0.0331		0.0369		0.0346
European Union	Euro		17.3886		20.6334		21.3649		21.8032		23.7539
Bulgaria	Lev		9.3785		10.5483		10.9223		11.1561		12.1406
Belarus ⁽³⁾	New Belarusian Ruble		9.9808		9.3929		9.8087		10.5622		9.9882
Croatia	Croatian Kuna		2.4096		2.7392		2.8619		2.8886		3.1954
Macedonia	Macedonian Denar		0.2984		0.3350		0.3471		0.3546		0.3861
Serbia	Serbian Denar		0.1517		0.1676		0.1762		0.1768		0.2009

(1)

In the years ended December 31, 2016 and 2017, the Argentine peso depreciated against the US dollar by 21.8% and 17.4%, respectively. The Company considers on the basis of the quantitative and qualitative indicators in IAS 29, that Argentina should not be considered a hyperinflationary economy as of December 31, 2017. However, it is possible that certain market participants and regulators could have varying views on this topic during 2018 as Argentina’s economy evolves. The Company will continue to carefully monitor the situation and make appropriate changes if and when necessary.

(2)	Includes U.S.A., Ecuador, El Salvador, Puerto Rico and Panama.

(3)	In July 2016, a new ruble was introduced, at a rate of 1 BYN = 10,000 BYR. Old and new rubles circulated in parallel from July 1 to December 31, 2016.

On the disposal of a foreign operation (i.e. a disposal of the Company’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a foreign operation, a disposal involving loss of joint control over a joint venture that includes a foreign operation, or a disposal involving loss of significant influence over an associate that includes a foreign operation), all of the exchange differences accumulated in other comprehensive income in respect of that operation attributable to the owners of the Company are recognized in the consolidated statements of comprehensive income.

As of April 26, 2018, the exchange rate between the US dollar and the Mexican Peso was $18.8139.

AMERICA MOVIL SAB DE CV/ | CIK:0001129137 |

ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory