Bundles of U.S. $100 banknotes arranged at the Shinhan Bank headquarters, a unit of Shinhan Financial Group Co., in Seoul, South Korea, on September 14, 2022. Photographer: SeongJoon Cho/Bloomberg
Foreign-exchange volatility hammered North America's corporate profits to a record degree in the third quarter, though signs of relief are on the horizon.
Currency oscillations cost North American companies $43.2 billion in the July-to-September period—an all-time high since data tracking started a decade ago—according to Kyriba Corp. That's a 26 percent spike from the previous quarter, which was also a record, according to the treasury management software company.
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