Is anyone here an UKRI guarantee fellow and do you know if we can add the exchange rate clausule?
I mean, I know from previous fellows that you can ask (always by writing) to your HR team to fix a clausule in your contract stating that if the currency drops, you will recieve the remaining amount. That means that they are not 'earning' money from your grant, or what is the same, you are not loosing money. If you state that at the begining, then they will refund you any remaining amount at the end of the contract.
That worked with the pre-brexit calls, as Universities recieved the money in Euros and they made the exchange. But. I am wondering if we can follow the same procedure with UKRI.
This year, UKRI exchange rate is tooo high (that means £1=1.18€. Last year was slightly better 1.16€. Taking into account that the pound is today 1.13€, for me doesn't make sense these exchange rates... At the end, WE will loose money, and we should be able to demand them to pay as ALL our granted money, not the money they decided because of the exchange rates they prefer.
They told me that they choose that 1.18 rate because it was the average from Jan to Sept 2022 period (crazy to see that because was the higher period in the last 24 months...)
From 236k eur of budget, they make the change to 200k pounds... Is weird... My X5 is now directly in POUNDS and I need to apply for that 200k in UKRI application...
Any help from the last year UKRI fellows would be reaaaaally welcome