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What They Are Earning In Forex
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Old 01-02-2008, 01:12 AM
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Default What They Are Earning In Forex

I would love to find more information on this...


With the enormous daily figures in the FOREX markets, large corporations have been seen to benefit enormously from foreign exchange movements. For example, Bank of America reported in its 2002 annual report a $530 million profit from foreign exchange trading revenue under "Global Investment Income". Meanwhile, it reported only a $384 million profit from trading stocks, and an $86 million profit from commodities trading.

Caterpillar established its special currency management group back in 1986, when it reported a $100 million profit on foreign exchange that turned its $24 million operating loss into a $76 million profit for that year.

DaimlerChrysler threw itself into major investment headlines in late 2003 when it acknowledged that more than half of its 2Q 2003 operating profit was generated by currency trades - making more money on foreign exchange than in selling cars. The car maker reported quarterly operating profit of € 641 million ($1 billion), beating some analysts estimates. The company says approximately €350 million of this profit was generated in foreign exchange.


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