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| Cash and cash equivalents | 11.Cash and cash equivalents
Fixed deposit bears interest at 4.35% to 5.00% per annum (June 30, 2024: 3.90% to 4.67% per annum) and for tenure of 30 days (June 30, 2024: 30 days). The Group placed a deposit of US$3,049,339 (June 30, 2024: US$3,000,000) with a bank in accordance with Hong Kong VATP guidelines for an affiliate, WhaleFin Markets Limited. For the purpose of presenting the statement of cash flows, and cash and cash equivalents comprise the following at the end of the financial period/year:
The currency profiles of the Group’s cash and bank balances as at the end of each reporting period are as follows:
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