International Capital Budgeting

Apparently it is not true.The reasons will be discussed as follows.
First of all,a positive NPV indicate that this program is acceptable in terms of the domestic or the local currency,as NPV is a preferable index used in evaluating the investment choices,but ,just as it refered it is a foreign project which are involve of the influence of currrency translation.And the exchange rate seems unstable which effectively have impact on the calculation of NPV.Secondly,each country or region has its own monetary policy,as mentioned,the currency control add more complicated element to it.so ,when dealing with the foreign project much attention should be paid and a predictive plan or preparation should me comsidered.