The Official European Commission rate for May 2013 is 1.1848 (was 1.1826), therefore with immediate effect, and until further notice, the standard exchange rate for internal calculations involving EU grants will be,
1.20 Euro = £1 (was 1.20 Euro in April 2013)
For grants that require the rates on 1st working day of the month, please refer to the rates published at the European Central Bank. Please note the University is not responsible for the content of external internet sites.
The internal US dollar rate for May 2013 has been set at,
1.55 US$ = £1 (was 1.50 US$ in April 2013)
The exchange rate will be maintained and changes considered when the rate diverges by plus or minus 5 points.
Please note that these rates are set for internal calculations purposes only. All external transactions denominated in foreign currencies (e.g. payment of purchase invoices) are recorded at the rate of exchange ruling at the dates of the transactions.