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QUESTION
In January 2004, Volkswagen, Europes largest carmaker, reported a 95% drop in 2003 fourth-quarter profits to 50 million due to sharp appreciation of...
In January 2004, Volkswagen, Europeʼs largest carmaker, reported a 95% drop in 2003 fourth-quarter profits to €50 million due to sharp appreciation of the Euro against USD.
Why did the Euro appreciate sharply in 2003?
Howcome Euro appreciate will effect Volkswagen's profit? please help me thanks!
