Which type of firm do you believe is more naturally hedged against exchange rate exposure, the purely

Question:

Which type of firm do you believe is more "naturally hedged" against exchange rate exposure, the purely domestic firm (e.g., the barber) or the multinational firm (subsidiaries all over the world)?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...