Fredriksen's well company books major loss due to weak krone

A weak Norwegian krone hits well company Archer with a foreign exchange loss of USD 23.4 million. The bottom line also reveals a major deficit for the company, which is controlled by John Fredriksen.

Photo: PR / Archer

John Fredriksen's well company Archer has seen a major foreign exchange rate loss due to the Norwegian krone's current weakness compared to the US dollar.

The company booked a foreign exchange rate loss of USD 23.4 million for the third quarter.

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