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Travelex recently purchased the Thomas Cook Financial Services business, which operates foreign currency exchanges, many in downtown retail locations, and also has an online delivery service.
His aim was to curb massive and destabilising movements of funds between foreign currency exchanges.
McDonald's said its earnings were padded by a 5-cent favorable impact from foreign currency exchanges, offset by a charge related to restaurant closings in Japan and an aftertax gain on the sale of its minority interest in Redbox Automated Retail, owned by Coinstar.
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Similar(51)
Adjusted for the effects of foreign currency exchange rates, revenue fell 2 percent, the company said.
Burger King said foreign currency exchange rates reduced fourth-quarter earnings by 1 cent a share.
The overall market will be flat, excluding foreign currency exchange effects, Alcatel-Lucent said.
Companies with business overseas expect less benefit from foreign currency exchange as the dollar rises.
The rise was principally because of favorable foreign currency exchange rates.
Firms are offering services like low-cost foreign currency exchange and new ways for small business to borrow cash.
Excluding the effects of foreign currency exchange, the company's overall sales rose 10percentt in the quarter.
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