| Summary of Short-term Derivative Contracts |
During the year-ended December 31, 2023 and 2022, dLocal entered into short-term derivative contracts (delivery and non-delivery forwards) with different counterparties in different countries in which the Group operates, according to the following detail:
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Transaction |
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Type of Forward Transaction |
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Local currency |
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Notional amount in USD as of December 31, 2023 |
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Outstanding balance as of December 31, 2023 - Derivative financial liabilities |
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Notional amount in USD as of December 31, 2022 |
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Outstanding balance as of December 31, 2022 - Derivative financial liabilities |
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Non-delivery forwards |
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Buy USD |
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Brazilian Reais |
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3,715,176 |
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(30 |
) |
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22,436,774 |
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122 |
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Non-delivery forwards |
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Sell USD (1) |
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Brazilian Reais |
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— |
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— |
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(959,141 |
) |
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(15 |
) |
Non-delivery forwards |
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Buy USD |
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Argentine Peso |
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3,400,000 |
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7 |
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6,600,000 |
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(6 |
) |
Delivery forwards |
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Buy USD |
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Chilean Peso |
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19,873,706 |
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(174 |
) |
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18,750,385 |
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(250 |
) |
Delivery forwards |
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Buy USD |
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Uruguayan Peso |
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2,552,177 |
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(48 |
) |
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2,240,602 |
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48 |
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Non-delivery forwards |
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Buy USD |
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Egyptian Pound |
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20,865,500 |
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1,479 |
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12,979,395 |
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1,002 |
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Non-delivery forwards |
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Buy EUR |
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Moroccan Dirham |
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1,490,406 |
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(51 |
) |
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6,834,496 |
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31 |
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Non-delivery forwards |
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Sell EUR |
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Moroccan Dirham |
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— |
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— |
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— |
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— |
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Non-delivery forwards |
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Buy EUR |
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US Dollar |
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29,113,656 |
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480 |
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— |
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— |
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Non-delivery forwards |
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Sell EUR |
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US Dollar |
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(6,323,275 |
) |
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(40 |
) |
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— |
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— |
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Non-delivery forwards |
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Buy USD |
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Nigerian naira |
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— |
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— |
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8,863,831 |
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(15 |
) |
Non-delivery forwards |
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Buy USD |
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Indian Rupee |
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2,397,451 |
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(7 |
) |
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5,920,282 |
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2 |
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Non-delivery forwards |
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Sell USD (1) |
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Indian Rupee |
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(950,435 |
) |
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(1 |
) |
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(566,948 |
) |
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1 |
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Non-delivery forwards |
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Buy USD |
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Southafrican Rand |
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8,127,767 |
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(230 |
) |
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5,176,642 |
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(235 |
) |
Non-delivery forwards |
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Sell USD |
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Southafrican Rand |
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(2,344,571 |
) |
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12 |
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(2,626,458 |
) |
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(11 |
) |
Non-delivery forwards |
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Buy USD |
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Peruvian Sol |
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1,200,000 |
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(67 |
) |
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— |
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— |
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Non-delivery forwards |
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Sell USD |
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Peruvian Sol |
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(1,251,563 |
) |
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62 |
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— |
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— |
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Non-delivery forwards |
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Buy USD |
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Vietnamese Dong |
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4,054,096 |
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(32 |
) |
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— |
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— |
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Non-delivery forwards |
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Buy USD |
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Moroccan Dirham |
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6,263,269 |
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(240 |
) |
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159,000 |
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(12 |
) |
Non-delivery forwards |
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Sell USD |
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Moroccan Dirham |
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(3,274,071 |
) |
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(28 |
) |
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— |
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— |
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Total |
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1,092 |
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662 |
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(1) The contracts to sell USD are entered into with the purpose of rebalancing and maintaining a hedge ratio that complies with the hedge effectiveness requirements.
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