INGO FX Insights Report 2021 - Charitytransfers.org joins forces with Crowe Accounting
We surveyed over 100+ internationally operating UK-based charities to discover how they navigate the foreign exchange market, the impact of volatility and the key challenges they face
Challenges at a glance:
55% of survey respondents name FX volatility as a major challenge, and 63% believe a FX market movement between 0% and 10% would cause them financial difficulty
43% indicated the primary method for dealing with volatility was by absorbing any negative movements using unrestricted funding
81% of INGOs believe access to a tool that accurately measured the cost of their foreign exchange payments would be useful
71% of respondents submitted that they had no official foreign exchange policy. Lack of internal resources, insufficient knowledge and a lack of prioritization being cited for the main reasons.