1.   A falling dollar means less francs when the company converts its foreign sales into its home currency.

2.   A higher dollar drove exporters such as Carrefour higher in recent months because when translated their U.S. sales mean more francs.

3.   A lower dollar means fewer francs for French multinationals that make a large part of their sales abroad.

4.   A lower dollar hurts the profits of exporters with dollar sales because it means less francs when they are converted.

5.   A weaker dollar means fewer francs, guilders, marks and other currencies for European exporters bringing home dollar-based earnings.

6.   But culture in this case means francs.

7.   French companies that make sales in dollars are particularly sensitive to its movements because a lower dollar means fewer francs when dollar sales are converted into francs.