| 2014 Rm |
2013 Rm |
||
17. |
Cash and cash equivalents |
||
| Short-term bank deposits | 4 017 | 4 841 | |
| Cash at bank | 288 | 83 | |
| 4 305 | 4 924 | ||
| Bank overdraft | – | (811) | |
| 4 305 | 4 113 | ||
| The weighted average effective interest rate on short-term bank deposits was 5.1% (2013: 4.8%) and these deposits have a maximum maturity of 60 days (2013: 60 days). | |||
| The net exposure to foreign currency denominated balances as at 30 June was as follows: | |||
| Bank balances (US$ million) | 50 | 77 | |
| The exposures by country are as follows: | |||
| South Africa | 3 888 | 4 050 | |
| Europe | 124 | 46 | |
| Zimbabwe | 287 | 17 | |
| Asia | 6 | – | |
| 4 305 | 4 113 | ||
| The following cash and cash equivalents are restricted for use by the Group by virtue of their nature and not timing: | |||
| Absa deposit account for guarantees | – | 1 | |
| Impala Pollution Control, Rehabilitation and Closure Trust Fund | 144 | 138 | |
| Morokotso Trust | 13 | 14 | |
| 157 | 153 | ||
| The carrying amount of the cash and cash equivalents approximates its fair value. |