What exchange rates are used in expense calculations?

When we calculate expenses that involve multiple currencies, we use daily market exchange rates.

What this means

• These rates are the “perfect” market rates available at a given time.
• They do not include the transaction costs or margins that banks and payment providers normally add.
• Because of this, the rate you receive from your bank or card provider may differ slightly.

Why we use market rates

• They provide a consistent and transparent benchmark across all expenses.
• They are widely recognized and easy to verify.
• They ensure that, even if individual transactions vary slightly, the overall expense reporting remains accurate and comparable.

Important to note

While the actual cost you see on a bank statement might differ due to fees or conversion margins, the exchange rates we apply are a close approximation that works well for reporting and reconciliation purposes.

Updated on: 22/09/2025