THE CURRENCY CRISIS IMPACT ON GLOBAL MULTI-NATIONAL FIRMS: Budgeted financial statements of a given firm should have taken into account potential changes of international Foreign eXchange (FX) rates. In the short-run an unexpected change in the FX rates could impact the one-year operating budgets of multi-national firms in the U.S.A. and worldwide. The contracts that companies may have made for the coming financial year will have a definite impact on the planned earnings for the firm. The corrective actions can be taken immediately, but the results will not show a positive turnaround until the latter part of the year or perhaps even the following year or more depending on the impact to the firm. Furthermore, the sales prices will be greatly impacted. The high operating costs will impact the sales and the growth will seem low even if there was significant development during the financial year. Depending on the change in the FX rate, the company can react appropriately in order to compensate for the negative impact. The long-term effects of such an event in the world market i......

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