A large number of European multinational corporations have seen their profitability take a hit as a result of a recent surge in volatility in the foreign-exchange market, according to a report from risk-management technology provider FiREapps.
During the third quarter of 2017, 54 out of 350 Europe-based companies reported a negative impact on their earnings as a result of currency moves.
Of those, 26 quantified their impact, accounting for a collective loss of €3.63 billion ($4.27 billion).
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