What happens if Exchange Rates change during a project?
The Finance Handbook stipulates that the exchange rate risk belongs to the Investigators. As payments for projects often happen in stages, often long after the costing has been performed, changes in the exchange rate may have a substantial impact on the actual Sterling value received. It is therefore recommended when planning and costing a project subject to exchange rates, we use an exchange rate that is a little weaker than the current rate (where we are allowed).
