Constant currency measures reporting is an accounting technique used by companies to present financials year-over-year for comparative purposes without the effects of currency movements. For example, a company can calculate constant currency buy taking the last period’s exchange rates and applying them to this period’s results. Although it allows for year-over-year comparisons, constant currency measures reporting is not without some pitfalls. For example, when exchange rates not used in preparing accounting results are used to calculate constant currency reporting, the reporting contains rate impacts not experienced by the company.