Exchange Exposure in a Multiple Currency World

  • Robert Z. Aliber


The measurement of the firm’s exposure to exchange risk involves estimating how various benchmarks of its economic performance — income, net worth and market value — would be affected by changes in exchange rates. Many firms indicate that they prefer not to be exposed. But there is less than complete agreement on the currency mix of assets and liabilities that is consistent with a non-exposed position.


Exchange Rate Foreign Currency Purchasing Power Parity Foreign Subsidiary Exchange Rate Change 
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  1. Leonard Lorensen, Reporting Foreign Operations of U.S. Companies in Dollars, Accounting Research Study No. 12 ( New York: American Institute of Certified Public Accountants, 1972 ).Google Scholar
  2. Donald J. Hays, ‘Translating Foreign Currencies’, Harvard Business Review (Jan–Feb 1972 ).Google Scholar
  3. Marvin M. Deupree, ‘Translating Foreign Currency Financial Statements to U.S. Dollars’, Financial Executive (Oct 1972).Google Scholar

Copyright information

© Robert Z. Aliber 1978

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  • Robert Z. Aliber

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