Awards in Foreign Currency

Source: OSP Website

At times, the University is unable to negotiate payment from foreign sponsors in U.S. Dollars (USD). In those instances, it is recommended that school/tubs consider obligating such awards at 90% to accommodate potential foreign currency fluctuations that occur over the life of the award. A process for managing these types of awards is available on in the Foreign Awards Paid in Foreign Currency Guidance on the OSP website. This guidance outlines a process to manage foreign currency fluctuations in order to minimize cash losses.