Exchange rate for January 2015
© 2015 EPFL
Following the announcement by the Swiss National bank to discontinue minimum exchange rate for the euro,
the financial service adapted on January 19th, 2015 the exchange rate used when recording the transactions.
Therefore if the accounting date is earlier than January 19th, 2015, the exchange rate used is the one of January 1st 2015, if the accounting date is equal or higher than January 19th, 2015, the exchange rate used is the one of January 19th.
The most important exchange rates used by the financial Service are available at http://sf.epfl.ch/monthlyexchangerate
Guaranteed exchange rate on FP7
As from January 1st 2015, all incoming receipts are registered based on the monthly rate and not anymore on the guaranteed exchange rate as this accounting method is not anymore in confirmity with our current accounting principles.
The possible financing gap between the financing at the guaranteed exchange rate and the financing registered at the monthly rate will be compensated at the end of the project.