The 2011 survey indicates that 69% of companies set budget rates as part of
their formal planning process for managing FX risk. This outcome is down
substantially from an 85% outcome in 2009 and an 80% response rate in 2008.
Unlike previous surveys in which there was little variation in behavior about
budget rates when comparing public and private as well as large and small
revenue companies, 2011 saw some differences. Public companies use budget
rates at an 82% response rate versus only 55% for private companies. Large
companies responded at an 83% rate versus a 55% rate for small companies.
While these measurements changed, the customary variability characterizing
how budget rates are set persisted in this survey.