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2.9 Financial instruments

As of the balance sheet date, there were no outstanding foreign exchange forwards for currency hedging of future cash flows that had not yet been recognised in the balance sheet. As of the balance sheet date, foreign currencies with a total value of CHF 8,426,000 are hedged (31.12.2020: CHF 20,323,000). These contracts are fully recognised and measured in the balance sheet (off-balance-sheet hedging transactions as of 31.12.2020 amount to CHF 12,000).