Foreign currency exchange

Treasury manages the University’s risks around spending and receiving foreign currency to:

• protect against losses due to changes in exchange rates
• increase certainty for budgeting and forecasting.

See the Foreign Exchange Risk Procedures for more information.

Lock in exchange rates for large transactions

Your organisational unit may be able to use our foreign currency hedge scheme to lock in exchange rates if you have a commitment to spend or receive foreign currency that is both:

• equivalent to more than A$500,000
• due in the next 12 months.

To lock in an exchange rate:

1. Read the Foreign Exchange Risk Procedures.
2. Tell Treasury about the commitment, including the currency, amount, dates, and whether you’re spending or receiving the foreign currency. They’ll give you an indicative exchange rate.
3. Submit a foreign currency hedge scheme application form (DOCX, 36.1 KB), with approval from an appropriate financial delegate. You’ll need to include the indicative exchange rate from Treasury and outline the benefits of locking in an exchange rate for your transaction.