6 . NOTE 21. Unrealised exchange gains and losses The revaluation of foreign currency receivables and payables at the exchange rates prevailing at 31 December, taking account of hedging instruments, led to the recognition of the following unrealised exchange gains and losses: € millions Assets Liabilities 31.12.2021 31.12.2020 31.12.2019 31.12.2021 31.12.2020 31.12.2019 Financial receivables - - - - - - Trade accounts receivable 1.9 1.0 0.7 0.1 0.2 - Borrowings and debt - - - - - - Trade accounts payable 0.1 - - - 0.2 - Derivative financial instruments 186.2 44.8 59.6 18.4 44.8 9.9 TOTAL 188.2 45.8 60.3 18.5 45.2 9.9 The overall foreign exchange position, calculated on a currency-per-currency basis at 31 December 2021, is an unrealised loss of €176.4 million. This loss is recognised as a provision for risk. At 31 December 2020, the overall foreign exchange position was an unrealised loss of €24.9 million, compared with an unrealised loss of €52.0 million at 31 December 2019. NOTE 22. Derivative financial instruments Derivative financial instruments can be broken down as follows: € millions Notional Market value 31.12.2021 31.12.2020 31.12.2019 31.12.2021 31.12.2020 31.12.2019 Currency futures Purchase of EURO against foreign currencies EUR/CNY 1,455.3 1,015.3 785.0 -130.9 1.0 -8.9 EUR/RUB 276.3 205.8 296.2 -10.2 12.4 -15.7 EUR/USD 162.4 155.5 114.2 -7.8 8.7 -5.2 EUR/BRL 106.8 69.4 81.1 -1.8 1.1 -0.1 EUR/KRW 61.3 54.2 57.8 -0.7 -0.5 -1.2 EUR/TWD 55.2 55.5 48.1 -1.4 3.6 -1.2 EUR/THB 51.8 45.0 45.1 -0.7 0.8 -2.3 EUR/IDR 45.4 35.6 42.7 -3.7 -0.6 -3.4 EUR/GBP 44.2 36.5 36.6 -1.0 0.0 -1.8 EUR/INR 26.7 23.2 19.1 -1.6 0.5 -0.7 EUR/ZAR 20.7 25.7 26.9 0.2 -2.3 -2.2 EUR/AUD 19.6 18.3 19.6 -0.4 -0.8 -0.4 EUR/CAD 16.6 16.1 25.0 -0.5 0.2 -0.8 EUR/DKK 15.9 14.8 4.3 0.0 0.0 0.0 EUR/PEN 11.0 8.1 10.4 -0.7 0.7 -0.3 EUR/TRY 1.1 60.6 61.5 0.3 -0.5 -3.8 EUR/Other currencies 65.0 53.0 74.0 -0.8 -0.4 -1.2 Sale of EUR against foreign currencies EUR/SGD 98.3 21.3 22.4 3.6 -0.4 0.3 EUR/PLN 36.2 32.2 37.8 -0.6 -0.5 0.6 EUR/JPY 8.7 15.2 22.7 0.1 -0.6 -0.1 EUR/HKD 0.0 16.5 9.7 0.0 -1.2 0.0 EUR/Other currencies 5.6 3.9 0.0 0.2 0.1 0.0 Purchase of USD against foreign currencies USD/CNY 256.6 179.4 153.8 -11.8 -11.2 -1.1 USD/BRL 46.3 26.6 56.4 1.3 -1.4 0.2 USD/THB 31.0 33.9 34.4 0.9 -1.7 -1.4 USD/KRW 15.5 15.4 15.7 0.6 -1.3 -0.1 USD/PEN 12.9 11.8 12.7 0.1 0.2 -0.2 USD/TWD 11.2 13.1 15.1 0.2 -0.1 -0.3 USD/PHP 9.6 20.4 9.2 0.3 -0.5 -0.3 USD/Other currencies 9.0 16.8 29.3 0.0 -0.7 -1.8 Sale of USD against foreign currencies USD/IDR 22.4 25.6 23.2 0.7 1.5 1.3 USD/Other currencies 0.6 0.0 0.0 -0.2 0.0 0.0 362 L ’ ORÉAL I UNIVERSAL REGISTRATION DOCUMENT 2021 PARENT COMPANY FINANCIAL STATEMENTS Notes to the financial statements of L’Oréal SA