UK Research and Innovation has updated its Horizon Europe Guarantee guidance with the following information on the exchange rate for 2024:
“For grant agreements signed by the Commission from 1 January 2024 until 31
December 2024 a maximum exchange rate of £1: €1.148787 will be accepted, which
reflects the 2023 average daily spot rate to the end of September 2023. This
exchange rate will only be applied to new guarantee applications from the 1st
January 2024, not to guarantee grants already funded by UKRI. For guarantee
grants where no EU grant agreement will be signed, the revised exchange rate will
apply for new guarantee applications to UKRI from the 1 January 2024.”
As a reminder for subscribers, the transitional measures ( i.e. the UK HE Guarantee) apply to all remaining Horizon Europe grant calls that are funded under Work Programme 2023 irrespective of the call closing or grant signature date.