Published on Thu, 04/06/2015 - 14:39
Each month X5 is updated with a default exchange rate for Euros, based on the average of the rates for the previous month. Recent substantial increases in the exchange rate between submission of the application and notification of award has resulted in a significant shortfall to the grant which is not covered by the University’s FOREX policy. However, Departments are able to use a higher exchange rate at their discretion, and if the budget threshold of the call allows it, to mitigate against possible losses. Details on how to change the rate are available from the X5 web site