Are currency translation gains and losses real gains and losses to shareholders? Aren't they just an accounting

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Are currency translation gains and losses real gains and losses to shareholders? Aren't they just an accounting effect that is necessary to consolidate financial statements prepared in different currencies?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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