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ANNUAL REPORT 2024 141GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2024(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 US dollar ratesEffect on profit before tax $%u20190002024 5% increase (88)5% decrease 882023 5% increase (63)5% decrease 63The aggregate value of financial assets and liabilities by reporting currency are as follows:Year ended 31 December 2024 TT US Total$ $ $ASSETSCash and short term%u2013deposits 73,371 2,401 75,772Investment securities 3,951 %u2013 3,951Trade and other receivables 26,091 %u2013 26,091 103,413 2,401 105,814LIABILITIESLease liabilities 2,848 %u2013 2,848Trade and other payables 17,616 633 18,249 20,464 633 21,097Net currency risk exposure 1,768