Grant currency exchange policy
What currency you can ask for in your grant application and what happens if the exchange rate fluctuates.
If you’re a Wellcome grantholder, you and your host organisation are responsible for managing grant finances appropriately. This includes making sure your grant is awarded in the currency that will allow you to effectively carry out your research.
Grants are usually awarded in a single currency. Multiple currency awards will only be considered in very exceptional circumstances.
Your grant application should ask for the currency you think will allow you to do your research effectively. In most cases, this will be your local currency. If you ask for a different currency, you must explain why.
If you need to make significant payments in more than one currency for reasons outside of your control, you can ask for your grant to be awarded in more than one currency.
If your application is successful, we will award your grant in the currency you asked for. If we're unable to buy this currency, we will talk to you about using another currency.
You cannot change the currency after your grant has been awarded, unless you are transferring your grant to a different country.
Your organisation must cover any extra costs if you chose the currency the grant was awarded in and your research costs increase due to foreign currency movements.
Wellcome will only consider covering extra costs if:
- your grant was not awarded in the currency you asked for, and
- currency movements mean your research costs increase, and
- there is a significant risk that you will not be able to complete your award activities.
You should contact us to request this supplement in the final 12 months of your award.
Contact our Funding Information Team if you have a question about funding.