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The unit of account is not relevant when measuring fair value of an asset or a liability.

If an entity manages a group of financial assets and financial liabilities on the basis of its net exposure to either market risk or credit risk, the entity is permitted to use the portfolio valuation exception permitted by IFRS $13.$

The highest and best use cannot override the principle of using the relevant IFRS Accounting Standard definition of unit of account as basis for valuation.

The unit of account as set out in the same IFRS Accounting Standard that requires the asset or liability to be measured at fair value must always be used as the basis for valuation.

The highest and best use is relevant for financial instruments.