SEC Filings

20-F
WNS (HOLDINGS) LTD filed this Form 20-F on 05/16/2018
Entire Document
 


Table of Contents

D. Exchange Controls

There are currently no Jersey or United Kingdom foreign exchange control restrictions on the payment of dividends on our ordinary shares or on the conduct of our operations. Jersey is in a monetary union with the United Kingdom. There are currently no limitations under Jersey law or our Articles of Association prohibiting persons who are not residents or nationals of United Kingdom from freely holding, voting or transferring our ordinary shares in the same manner as United Kingdom residents or nationals.

Exchange Rates

Substantially all of our revenue is denominated in pound sterling or US dollars and large part of our expenses, other than payments to repair centers, are incurred and paid in Indian rupees. We report our financial results in US dollars. The exchange rates among the Indian rupee, the pound sterling and the US dollar have changed substantially in recent years and may fluctuate substantially in the future. The results of our operations are affected as the Indian rupee and the pound sterling appreciate or depreciate against the US dollar and, as a result, any such appreciation or depreciation will likely affect the market price of our ADSs in the US.

The following table sets forth, for the periods indicated, information concerning the exchange rates between Indian rupees and US dollars based on the spot rate released by the Federal Reserve Board:

 

Fiscal year:

   Period End(1)      Average(2)      High      Low  

2014

     60.00        60.35        68.80        53.65  

2015

     62.31        61.11        63.67        58.30  

2016

     66.25        65.39        68.84        61.99  

2017

     64.85        67.01        68.86        64.85  

2018

     65.11        64.46        65.71        63.38  

2019 (until May 11, 2018)

     67.28        66.06        67.28        64.92  

Notes:

 

(1) The spot rate at each period end and the average rate for each period may differ from the exchange rates used in the preparation of financial statements included elsewhere in this annual report.
(2) Represents the average of the daily exchange rates during the period.

The following table sets forth, for the periods indicated, information concerning the exchange rates between Indian rupees and US dollars based on the spot rate released by the Federal Reserve Board:

 

Month:

   High      Low  

November 2017

     65.46        64.29  

December 2017

     64.57        63.83  

January 2018

     64.01        63.38  

February 2018

     65.20        63.93  

March 2018

     65.24        64.83  

April 2018

     66.92        64.92  

May 2018 (until May 11, 2018)

     67.28        66.52  

 

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