Quarterly Report Identifies FX Vulnerability for North American Corporations Quantifying $9.32 Billion in Tailwinds
SAN DIEGO, Feb 10 (Bernama-BUSINESS WIRE) — Kyriba’s Currency Impact Report (CIR), a comprehensive quarterly report which details the impacts of foreign exchange (FX) exposures among 1,200 multinational companies based in North America and Europe, reveals $11.98 billion in total impacts to earnings from currency volatility. The combined pool of corporations reported $9.86 billion in tailwinds and $2.13 billion in headwinds in the third quarter of 2021. North American companies experienced greater tailwinds than their European counterparts, reporting $9.32 billion in FX-related positive impacts — a decrease of 145% from the previous quarter. By comparison, European corporations reported $541 million in positive currency impacts — a decrease of 20% from the previous quarter.