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Last month, Treasury & Risk spoke with Kyriba’s Wolfgang Koester about that company’s Q1/2022 “Currency Impact Report.” The study examined the financial statements of 1,200 large public companies outside the financial services sector and found that they experienced more than US$9 billion of currency tailwinds in Q3/2021, a trend that increased their earnings per share (EPS) by an average of 4 cents for the quarter.

Late last week, Kyriba released its Q2/2022 “Currency Impact Report,” based on corporates’ reporting of Q4/2021 earnings. This latest analysis shows that by the end of last year, the currency winds had taken a fairly dramatic turn for the worse.

Some organizations were still feeling positive effects on their earnings from currency volatility through December. The North American companies in the study experienced these “tailwinds” through a cumulative $468 million improvement to corporate earnings.

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