You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Greenpeace loses $5.2m in currency bet

An employee of the environmental organization made an unauthorized bet the euro’s value would not rise.

Efrem Lukatsky /Associated Press/File 2013

An employee of the environmental organization made an unauthorized bet the euro’s value would not rise.

NEW YORK — Add Greenpeace International to the ranks of losers in the $5.3 trillion-a-day global foreign exchange market.

The Amsterdam-based nonprofit said it lost $5.2 million last year after an employee bet that the euro would not strengthen against other currencies. The euro rose 4.2 percent against the dollar in 2013.

Continue reading below

Greenpeace, which runs environmental campaigns in more than 40 countries, did not name the employee, who worked in its international finance unit and has been relieved of his position.

‘‘We are obviously very embarrassed and we are apologetic,’’ said Mike Clark, interim executive director of Greenpeace USA. ‘‘Mistakes do happen and we will make sure something like this will not happen again.’’

Greenpeace said it did not find evidence of fraud and will commission an independent audit.

The loss will added to Greenpeace’s 6.8-million-euro 2013 budget deficit.

Loading comments...
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.