KUALA LUMPUR, April 28 (Bernama) -- Kyriba’s Currency Impact Report (CIR) has revealed negative impact from currency volatility of US$6.16 billion. (US$1 = RM4.099)
CIR is a comprehensive report detailing the impacts of foreign exchange (FX) exposures among 1,200 multinational companies based in North America and Europe.
Based on a statement, European companies experienced greater headwinds than their North American counterparts in the fourth quarter of 2020, reporting US$4.77 billion in FX-related negative impact.
By comparison, North American corporations reported US$1.39 billion in negative impact.
For the second quarter in a row, North American companies indicated the euro as the most impactful currency, with 33 per cent of companies referencing the euro in their Q4 earnings calls.
The Brazilian real moved up a spot as the second most referenced currency, followed by British pound, Chinese yuan renminbi and Swiss franc.
The top five industries that experienced the greatest impact from currencies in North America (in order) were electronic equipment; professional services; healthcare equipment; biotech and pharmaceuticals; and, technology hardware.
While in sequence, electronic equipment; biotech and pharmaceuticals; chemicals; healthcare equipment; and, auto components were the top five industries that reported the greatest impact for Europe.
The US dollar remained the currency most mentioned as impactful by European companies during Q4 2020 earnings calls, followed by the euro, with the Swedish krona ranked third.
-- BERNAMA
No comments:
Post a Comment