Currency Risk on page 422 discussed the currency risk that multinational firms face. Between July 2008 and

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Currency Risk on page 422 discussed the currency risk that multinational firms face. Between July 2008 and December 2009, the value of the yen relative to the U.S. dollar went up by about 17 percent, and as a result, when companies traded dollars for yen, they got fewer dollars back. Which firms did this hurt more: Japanese firms that produced goods in Japan and sold them in the United States or U.S. firms that produced goods in the United States and sold them in Japan?
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Financial Management Principles and Applications

ISBN: 978-0134417219

13th edition

Authors: Sheridan Titman, Arthur J. Keown, John H. Martin

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