Item 7A. Quantitative and Qualitative Disclosures About Market Risk
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
We are exposed to financial market risks related to changes in interest rates earned on our investments. We cannot predict market fluctuations in interest rates. As a result, future results may differ materially from estimated results due to changes in interest rates. A hypothetical 100 basis point change in prevailing market interest rates would not have materially impacted our financial position, results of operations or cash flows for fiscal 2020. We do not engage in financial transactions for trading or speculative purposes and have not entered into any interest rate hedging contracts. On March 20, 2020, we borrowed $43.7 million in principal amount under our Revolving Credit Facility. On September 11, 2020, we repaid the full amount outstanding under our Revolving Credit Facility. Such borrowings accrued interest ranging from 1.625% to 3.5%.
We source all of our products from markets in the United States in U.S. Dollars and, therefore, are not directly subject to fluctuations in foreign currency exchange rates. However, fluctuations in currency exchange rates could affect our purchasing power with vendors that import merchandise to sell to us. We have not entered into forward contracts to hedge against fluctuations in foreign currency prices.
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