Core profit is expected to be flat to down in the low-single digit percentage range, compared with its prior forecast of mid-single digits growth.
The dollar .DXY gained nearly 13 percent against a basket of currencies in 2014, its strongest performance since 1997.
P&G said exchange rates would reduce full-year sales by 5 percent and profit by 12 percent, or at least $1.4 billion after tax.
Moeller said the impact from currency fluctuation would never go away fully, and that P&G was working to further localize its supply chain and building 20 new manufacturing plants in emerging markets.
Since August, where P&G outlined a plan to sell slow-growing brands and cut jobs to revive sales growth, a total of 35 brands have either been sold, discontinued or will be consolidated, P&G said on Tuesday.
Organic sales in the second quarter ended Dec. 31 rose in all businesses, except in its beauty, hair and personal care business due to lower demand for Olay creams and other products.
The lackluster organic growth across divisions and P&G's seeming inability to offset currency fluctuations with productivity and pricing was concerning, UBS Securities analyst Stephen Powers wrote in a note.
Net sales fell 4.4 percent to $20.2 billion, missing analysts' estimate of $20.62 billion, according to Thomson Reuters I/B/E/S.
Net profit attributable to P&G fell 31 percent to $2.37 billion. Core earnings fell to $1.06 per share, lower than analysts' estimate of $1.13.