Porsche renews dollar hedges at weaker rates - CFO

Newswire

STUTTGART, Germany, Nov 26 (Reuters) - Porsche had no choice but to renew expiring currency hedges for its dollar exposure at "far weaker exchange rates", Chief Financial Officer Holger Haerter said on Wednesday. In remarks prepared for a news conference, he also said: - Porsche applies compound options scheme that protects company against weaknesses without being negatively affected by dollar gaining value once again - believes current dollar strength is a temporary phenomenon, but ...

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