Kyriba’s latest Currency Impact Report (CIR) shows multinational companies experienced over $29bn in total impacts to earnings from currency volatility in the second quarter of this year. The CIR st...
CFOs Struggle with Currency Risk Amid $6B Increase in Total FX Impacts from Previous Quarter
European Companies Lead Suffering as Headwinds Jump 349%
SAN DIEGO: Kyriba’s latest Currency Impact Report (CIR) shows multinational companies experienced over $29bn in total impacts to earnings from currency volatility in the second quarter of this year. The CIR studies the quarterly impacts of foreign exchange (FX) exposures among 1,700 multinational companies based in North America and Europe with at least 15 percent of overseas revenue. The combined pool of corporations reported $20.15 billion in FX-related headwinds and $8.99 billion in tailwinds in the second quarter of 2023, with North American companies reporting $14.43 billion in headwinds, and European companies reported $5.72 billion in headwinds.
“Currency impacts are a global phenomenon and no geographic region is immune, demonstrated by the massive increase in European headwinds from last quarter,” said Melissa Di Donato, Chair and CEO at Kyriba. “This data is a clear signal to global organizations with significant overseas exposure that currency volatility continues to erode value. Quantifying the impacts of FX on their businesses is critical for CEOs and CFOs to execute data-driven risk management programs.”
Highlights from the November 2023 Kyriba Currency Impact Report include:
“CFOs have a long way to go to cost effectively manage FX risk to protect balance sheets, earnings and cash flow from currency swings,” shared Di Donato. “Staying vigilant for the remainder of the year and into next year should be a top priority to mitigate the currency effects from geo-political events, economic volatility and financial market concerns.”
To learn more about FX impacts to specific industries and which currencies were most impactful to multinationals, download the November 2023 Kyriba Currency Impact Report here.
About Kyriba Corp.
Kyriba empowers CFOs, Treasurers and IT leaders to transform liquidity performance and drive value creation through data-driven financial decisions. Kyriba is a secure, scalable SaaS platform that delivers intelligence and financial automation enabling thousands of multinational corporations and banks to maximize growth, improve financial resilience and increase operational efficiency. For more than 2,500 clients worldwide, including 25% of Fortune 500 and Euro Stoxx 50 companies, Kyriba manages more than 2.5 billion bank transactions and $15 Trillion in payments annually.
Kyriba is headquartered in San Diego, with offices globally. For more information, visit www.kyriba.com.
Contacts Christina Baviello
kyriba@kcsa.com
914-462-7456
Fonte: Business Wire
Alaa Abdul Nabi, Vice President, Sales International at RSA presents the innovations the vendor brings to Cybertech as part of a passwordless vision for…
G11 Media's SecurityOpenLab magazine rewards excellence in cybersecurity: the best vendors based on user votes
Always keeping an European perspective, Austria has developed a thriving AI ecosystem that now can attract talents and companies from other countries
Successfully completing a Proof of Concept implementation in Athens, the two Italian companies prove that QKD can be easily implemented also in pre-existing…
On Monday, July 14, 2025 at 10:00 a.m. Eastern Time, Mastercard Incorporated (NYSE: MA) will host a session to explore Mastercard’s recent announcements…
#3PL--Wave Function™, a New Bedford, MA-based founding partnership company, has invested in Packsmith.ai, a Los Angeles-based, AI-driven third-party logistics…
#AI--EvenUp, the highest-funded AI technology company serving personal injury law firms, has officially opened its new headquarters at 353 Sacramento…
Amazon announced today that Prime Day 2025 was its biggest Prime Day event ever and that customers saved billions on deals across more than 35 product…