31 Jan Currency hit to North American companies’ third quarter results most in 10 quarters: report
FILE PHOTO: United States one dollar bills on a light table at the Bureau of Engraving and Printing in Washington Nov. 14, 2014. REUTERS Gary Cameron/File Photo/File Photo
NEW YORK (Reuters) – The negative effect of currency fluctuations on North American companies’ results in the third quarter of 2018 was the most in 10 quarters, according to a report on Wednesday from currency risk consulting firm FiREapps.
For the third quarter, the collective negative impact of currency fluctuations on North American companies – including in the United States, Canada and Mexico – that quantified an exchange rate effect was $11.8 billion, FiREapps said in the report.
That followed four quarters of relatively low impacts.
Also, 265 North American companies reported negative currency impacts in the third quarter, nearly six times the number that reported negative impacts in the second quarter of 2018, the report said.