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The treasury team at Kimberly-Clark Cos. (KCC) has spent the last six months coming up with an effective way to manage the company’s Russian ruble exposure, says Jolene Varney, KCC’s vice president and treasurer. The company claims to have more than 40% of the diaper market in Russia with its Huggies brand. “The growth in this business means that the currency exposure is now large enough to impact the business results of our emerging markets and could certainly affect the decisions that we make in Russia,” says Varney.

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