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Currency Conversions

University Travelers seeking reimbursements for expenses must convert the foreign currency to U.S. Dollars for the rate in effect at the time of the transaction.  Each receipt should converted separately, and the conversion to dollars written on the receipt as follows:

Amount in foreign currency X exchange rate = Amount in U.S. Dollars

For example, On July 1, 1998, the conversion rate between U.S. dollars and Canadian dollars was:

1 Canadian Dollar = 0.6821 US Dollar
1 US Dollar (USD) = 1.4661 Canadian Dollar (CAD)

If you have a receipt for 10 Canadian dollars, you would convert to U.S. Dollars as follows:

10 X 0.6821 = $6.82

If there is not enough room on the receipt to write this information neatly, you should tape or glue the receipt to a larger piece of paper and write this information beneath the receipt.   You may attach multiple receipts to a single piece of paper in this fashion, writing the conversion calculation beneath each one.

Converted amounts should be transferred to the appropriate place on the Form 25.

To determine the conversion rate in effect at the time of your trip, use the converter below:

164 Currency Converter by OANDA

A "cheat sheet" of conversions in uniform denominations of foreign currency that you can carry in your purse or wallet is available using the following link:

Cheat Sheet for Travelers - wallet-sized table of currency exchange rates for travellers

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Disclaimer

The information contained on this site is based on official Purdue University policy as promulgated through the Purdue University Business Procedures Manual (BPM). TheBPM is available only in HTML format at http://www.purdue.edu/bpm/BPM/. The IPFW Accounting Services Web Site comprises the essential content of the Business Procedures Manual, with certain adaptation for situations unique to the Fort Wayne Campus. While every effort has been made to be consistent and accurate, erroneous information may appear. The presence of erroneous information on this web site in no way changes official University policy nor relieves University employees of their responsibility to act in accordance with University Policy.

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