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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2022 113GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2022(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)25. Risk management (continued)Currency riskCurrency risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates. Such exposure arises from sale or purchases by an operating unit in currencies other than the unit%u2019s functional currency. Management monitors its exposure to foreign currency fluctuations which is mainly the US currency and employs appropriate strategies to mitigate any potential losses.The sensitivity to a possible change in the US dollar exchange rate, with all other variables held constant, of the Group%u2019s profit before tax is as follows:Change in USdollar ratesEffect on profit before tax$%u20190002022 5% increase (123)5% decrease 1232021 5% increase (295)5% decrease 295The aggregate value of financial assets and liabilities by reporting currency are as follows:Year ended 31 December 2022 TT US Total$ $ $ASSETSCash and short term%u2013deposits 74,905 1,086 75,991Investment securities 4,401 %u2013 4,401Trade and other receivables 40,963 %u2013 40,963 120,269 1,086 121,355LIABILITIESLease liabilities 10,769 %u2013 10,769Trade and other payables 18,711 3,544 22,255 29,480 3,544 33,024Net currency risk exposure 90,789 (2,458) 88,331