farmboy
(Vale) "We saw a drop in the net income of about $2.9 billion in the quarter mainly driven by a non-cash impact of the depreciation of the Brazilian real against U.S. dollar."
Do I have this back to front. If Vale like all the other major miners earns its revenue in USD, wouldn't the depreciation of the Real against the USD be a benefit to its bottom line? The way I calculate it, an appreciating Real would reduce the amount of net revenue, after conversion from USD to Real.
Flip
FMG analysis, page-4
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Last
$21.86 |
Change
0.040(0.18%) |
Mkt cap ! $67.30B | |||
| Open | High | Low | Value | Volume |
| $22.18 | $22.18 | $21.69 | $119.2M | 5.445M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 14450 | $21.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.87 | 152 | 1 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |