Charities Seek to Protect Donations From Currency Swings

In an effort to protect their charitable donations from swings in foreign currencies, some leading global charities are trading large sums of dollars in foreign-exchange markets to cut back on currency conversion costs when they raise money overseas, reports The Wall Street Journal.

World Vision is a pioneer in this effort and now trades more than $1-billion annually in 73 currencies, the newspaper reports.

“The most critical thing is how to preserve the value of donations, and you’ve got to use the most effective tools available and stay on top of the game,” says Kathryn Powers, World Vision’s global treasurer.