The volatility of the exchange-rates between countries can have a significant
impact on sales and profits. For example, the change in rates between the Japanese
yen and the U.S. dollar from below 90 yen per dollar to more than )20 yen per dollar between 1996 and 1997 increased the price competitiveness of Japanese products in the United States while decreasing the ability of U.S. products to compete in Japan.A . similar situation occurred in 2000-200 I with a decrease in the value of the euro from LS -1.06 to less than US$0.90 .