NOTE 28
NET FOREIGN EXCHANGE GAIN (LOSS)
Net foreign exchange income includes the income earned from foreign currency trading, differences arising from converting monetary items in a foreign currency to the functional currency, and those generated by non-monetary assets in a foreign currency at the time of their sale.
For the years ended December 31, 2017, 2016 and 2015 net foreign exchange income is as follows:
| For the years ended December 31, | |||||
| 2017 | 2016 | 2015 | |||
| MCh$ | MCh$ | MCh$ | |||
| Net foreign exchange gain (loss) | |||||
| Net profit (loss) from currency exchange differences | 113,115 | 116,117 | (197,875) | ||
| Hedging derivatives | 22,933 | 399,875 | 777,254 | ||
| Income from assets indexed to foreign currency | (9,190) | (8,745) | 25,421 | ||
| Income from liabilities indexed to foreign currency | 98 | 145 | (1,404) | ||
| Total | 126,956 | 507,392 | 603,396 | ||