Guidance and policies on dealing with budgets awarded in foreign currencies
The exchange rate at which EU and International projects are budgeted at is agreed in advance and is intended to limit risks associated with potential exchange differences over the life of the project.
To ensure a consistent approach during the lifetime of any EU /International project, your Research Grants Administrator will assist with reviewing expenditure on the available currency budget, to try to manage against any underspend or overspend at the end of a project.
There are also tools within worktribe to monitor remaining balance of budget in awarded currency to assist in forecasting and planning expenditure.
The responsibility for exchange rate losses or gains on projects rests with departments and is not covered centrally.
Please contact EU/International Research Grants Manager for latest currency rates for new projects or check on Worktribe.