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Currency hit to North American companies in Q3 lowest since 2018 -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: U.S. dollar banknotes can be seen at the front of this stock graph illustration from February 8, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

By Caroline Valetkevitch

NEW YORK (Reuters] – North American businesses’ third-quarter results in 2021 fell from the previous quarter and was the lowest since 2018, according to Kyriba, a financial management company.

Kyriba reported that the collective impact of the exchange rate on all companies from the United States, Canada, and Mexico was $929 Million in the third quarter last year. This compares with the $2.32 Billion negative effect experienced in the second quarter 2021.

Kyriba’s data show that the impact in the third-quarter was the lowest since the start of 2018 due to the negative effects.

Globally, the impact on both European and North American businesses was $2.13 Billion in the third-quarter of 2021. It is down from the 2.25 billion reported in the second quarter.

In recent weeks, companies have reported results for the fourth quarter 2021.

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