By Caroline Valetkevitch
NEW YORK – The negative impact of currency fluctuations on North American companies’ third-quarter 2021 results fell from the quarter before and was at the lowest level since the first quarter of 2018, data from treasury and financial management firm Kyriba showed on Wednesday.
The collective exchange rate hit, including on companies in the United States, Canada and Mexico, was $929 million in the third quarter of last year, compared with a $2.32 billion negative effect in the second quarter of 2021, Kyriba said in a report.
The hit in the third quarter was the lowest negative effect since the first quarter of 2018, according to Kyriba’s data.
The collective negative impact reported by both North American and European companies was $2.13 billion in the third quarter of 2021, also down from the negative impact in the second quarter of 2021.
S&P 500 companies in recent weeks have been reporting results on the fourth quarter of 2021.
(Reporting by Caroline Valetkevitch; Editing by David Gregorio)
