Volkswagen’s chief executive Bernd Pischetsrieder has said that Japan-based OEMs are benefiting from the strength of the euro, according to Reuters.

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The euro rose to a record high against the yen last week, to JPY144.92, but closed at JPY143.09 at the end of the week, according to the news agency.


The euro has also been rising against the dollar. Pischetsrieder said that although he would welcome a more favourable euro:dollar exchange rate the company is insured against exchange rate risks for the next year.


Pischetsrieder was speaking in Vienna at a meeting of European Union finance ministers, known as ECOFIN.

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