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20. Cash and cash equivalents (excluding overdrafts)
| All figures in £ millions | 2007 | 2006 |
|---|---|---|
| Cash at bank and in hand | 439 | 421 |
| Short-term bank deposits | 121 | 171 |
| 560 | 592 |
Short-term bank deposits are invested with banks and earn interest at the prevailing short-term deposit rates.
At the end of 2007 the currency split of cash and cash equivalents is US dollars 37% (2006: 31%), sterling 29% (2006: 35%), euros 16% (2006: 21%) and other 18% (2006: 13%).
Cash and cash equivalents have fair values that approximate to their carrying amounts due to their short-term nature.
Cash and cash equivalents include the following for the purpose of the cash flow statement:
| All figures in £ millions | 2007 | 2006 |
|---|---|---|
| Cash and cash equivalents | 560 | 592 |
| Bank overdrafts | (68) | (61) |
| 492 | 531 |