The portfolio value is 149,905 GBP. A standard ETRM offers only one conversion i.e. either GBP/EUR(176,887.9 EUR) or GBP/USD(190,379 USD) which doesn’t give out the real portfolio exposures. As a subsidiary, the company has a GBP/EUR exposure but as a global organization, the company has a EUR/USD exposure.

The correct portfolio exposure would be if the ETRM calculates the exposures From the Deal currency (149,905 GBP) to the Business function currency – GBP/EUR(176,887.9 EUR) and then to reporting & compliance currency – EUR/USD (189,270.05 USD)
