Currency volatility sees multinationals lose almost US$10bn in Q1

North American and European companies reported a combined US$9.54bn in quantified negative currency impacts in Q1 2021, up 55% from the previous quarter, according to Kyriba’s Currency Impact Report for Q2021. European companies accounted for 38% of the impact, reporting US$3.67bn in quantified impacts. North American companies quantifying headwinds reported a total of US$5.87bn in negative currency impacts, a break in the low trend seen in the past two quarters. This is potentially due to the continued volatility of the US dollar.