Year ended 31 July 2006
22. Cash and cash equivalents
| 2006
£m |
2005
£m |
|
|---|---|---|
| Cash and cash equivalents | 359 | 371 |
| Short-term bank deposits | 57 | 10 |
| Total cash and cash equivalents | 416 | 381 |
The effective interest rate as at 31 July 2006 on cash and cash equivalents was 2.1% (2005: 2.0%). The average maturity of short-term bank deposits was 1 week (2005: 1 week). The fair values of cash and cash equivalents approximate to book value due to their short maturities.
The currency analysis of cash and cash equivalents is as follows:
| Sterling | 104 | 33 |
|---|---|---|
| US dollar | 230 | 224 |
| Euro | 56 | 94 |
| Other | 26 | 30 |
| Total | 416 | 381 |
