With the 2027 ERC Work Programme, the ERC has clarified its policy on the exchange rate for applications with applicants based outside the Eurozone (p.14, note 15):
“the exchange rate to be applied on the costs estimates should be the one applicable by the ECB [European Central Bank] at the time of proposal submission or the average over a 30-month period before the call opening.”
This text was not included in the 2026 Work Programme, and applicants were surprised to notice that the new exchange rate policy was also included as a footnote in the Information for Applicants for the 2026 ERC Advanced Grant call.
The ERC Executive Agency has now offered a clarification on this point saying that the exchange-rate precision introduced in footnote 14 of the ‘Information for Applicants to the Advanced Grant 2026 Call’ is intended solely to provide guidance on what may be considered “a realistic estimate of the anticipated actual project costs (in euro)…” (see page 14 of the ERC WP 2026).
In this regard, it is worth noting as well that footnote 15 on the same page of the ERC WP 2026 states that “Applicants to the Advanced (…) call shall prepare their budget by including only those costs that would be considered eligible under an actual cost grant…” (for more info on this, please see Articles 6.1.(a).vii) and 21.3 of the ‘Actual Costs’ HE MGA).
That said, applicants can be reassured that:
- the Agency will not systematically ask applicants about the exchange rate applied in their submitted proposals, but rather expects applicants to follow the guidance provided in the ‘Information for Applicants to the Advanced Grant 2026 Call’; and
- as already done in the context of previous ERC calls using lump sum grants, should any excessive costs be identified during the preparation of the Grant Agreement, the Agency will first discuss the matter with the applicants concerned and hear their views before taking any decision (if necessary, adjusting the maximum grant amount).
We hope this clarifies the matter.