BMW more than halves US dollar exposure

BMW cut its US dollar risk by almost two-thirds, as the German carmaker’s worries about exchange rate fluctuations of the greenback ebbed at the end of 2017.

Applying what the company calls a “cash-flow-at-risk” model to measure its currency risk, BMW reduced its exposure to the US dollar to €1.1 billion ($1.4 billion) last year, down from €3.3 billion at the end of 2016.

In its annual report, BMW explains its approach doles out the expected impact of exchange rate fluctuations to operating c