9th May 2022 – This quarter’s Currency Impact Report from Kyriba reveals North American multinational corporations lost $4.56 billion in the last quarter due to currency volatility, led by a surge in the Canadian dollar against the Euro and Yuan.

By comparison, European corporations reported $2.18 billion in FX-related losses, an 80% percent decrease in negative currency impacts.

Report highlights:

• Companies reported $11.21B as the total impact of currency volatility
  • A $77M drop from the previous quarter ($11.98B)
• The total quantified negative impact was $6.74 billion
  • More than triple the impact of the previous quarter ($2.13B)
• North American corporations reported tailwinds of $468 million due to currency volatility
  • A $8.86B drop from the previous quarter ($9.32B)
• North American corporations reported losses of $4.56 billion due to currency volatility
  • A $3.63B increase from the previous quarter ($929M)
• European corporations reported losses of $2.18 billion due to currency volatility
  • An 80% decrease from the previous quarter ($1.21B)
• North American companies indicated the most impactful currencies as
  • The Canadian dollar (CAD) with 33% of companies referencing it as most impactful
  • The Euro (EUR)
  • The Chinese Yuan (CNY)
• The average earnings per share (EPS) impact from currency volatility reported by North American companies in Q3 2021 remained at $0.04—four times greater than the industry standard MBO of less than $0.01 EPS impact.
• European companies indicated the most impactful currencies as

1. The Euro (EUR) with 38% of companies referencing it as most impactful
2. The Swedish krona (SEK), with 30% of companies referencing it as most impactful
3. The U.S Dollar (USD)