UNORE Rate Analysis

The UN Operational Rate of Exchange (UNORE) is published monthly by UN Treasury and used by all UN agencies for converting funding from donor currency (typically USD) to local currency in the countries where they operate. The rate applies to staff salaries, local procurement, and operational costs.

Because UNORE rates are set periodically rather than continuously, they can lag behind rapidly moving markets — particularly in countries with currency instability, high inflation, or capital controls. The staleness metric shows how many days have passed since the UNORE was last updated. The UNORE vs Spot spread shows how much the official UN rate diverges from the current interbank market rate.

When UNORE lags behind a weakening local currency, UN agencies receive fewer units of local currency per dollar than the market would provide — reducing the purchasing power of every dollar of humanitarian funding converted at that rate.