Question-and-Answer Session
Operator
(Operator instructions) We’ll pause for just a moment to compile the Q&A roster. Your first question comes from the line of David Burtzlaff with Stephens.
David Burtzlaff – Stephens
Jeff, I have a few questions here. First, Randy, do you have the loss rates on payday for each country in the quarter?
Randy Underwood
Yes. I do, David. In the US, they were 29.6%, in Canada 20.7%, and in the UK 11.7%.
David Burtzlaff – Stephens
Okay. And in the UK, that 11.7%, does that include the pawn revenue? I mean when you calculate that on a percent of revenue basis.
Randy Underwood
Yes.
David Burtzlaff – Stephens
It does. Okay. All right. And then, the gain on the income statement in the other, I assume that’s from the currency hedges?
Randy Underwood
Yes. That’s the sale of the hedges and the net amounts that we realized on those hedges in the second quarter.
David Burtzlaff – Stephens
Okay. And then lastly, on guidance. The new guidance range, what kind of currency rates are baked into that, I mean to get to the high and the low end?
Randy Underwood
Well, I would answer that by saying, of course, that guidance is a combination of what we think about the currency providing themselves some room for the volatilities that we’ve seen here recently as well as some expectations that the economic environment might get a little worse. And I think we don’t have an exact number for the guidance as you’d appreciate in currency other than to basically suggest to everybody, as we said, if you took our anticipated results for the quarter, I mean for the year, as we see them at this point and time, and apply currencies that were in effect last year, we believe we would fall within the 15 [ph] or the old range of the guidance that we gave.
At this point and time, in the second quarter and as we’re sitting here today, the looney is down about 20% from where we were last year and the pound sterling is down about 30%. So I think if you apply those factors, that’s where we are today. And we provided just a little bit of room for falling below that knowing that I will remind you that we put in place as we stated in the earnings call here of $0.80 on the looney and $1.60 on the pound for January through April. I think that’s a fairly good benchmark at this point in time.
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