Since your association holds meetings abroad, you most likely face currency exchange issues. This depends on what currency you are invoicing participants with.
For example, if you collect registration revenue in USD running up to the event, you will need to remit the VAT on these sales to the local government. This payment has to be made in the local currency (EUR, GBP, JPY, etc.). Local suppliers for the event will usually be paid in local currency as well.
All this movement of money can incur costly currency exchange costs. There are a few possible solutions to this problem.
1. collect registration revenue in the local currency: This is the most obvious solution, but most often not the easiest as your local bank, credit card provider and such, might not be able to handle foreign currency transactions. If they do, they probably charge onerous sums for the service.
2. Collect part of the revenue in local currency: Some clients chose to collect sponsor and exhibitor revenue in the local currency. This creates a fund from which suppliers and foreign governments can be paid out with. Often the best way to do this is to open a bank account in the host country. The downside of this process is lots of red tape, forms, etc. to actually open the bank account. Keeping track of this foreign account can put an added burden on your staff as well.
3. Using an FX provider: Much like buying milk at the corner at a higher price out of well, convenience, letting your bank handle all your FX needs can seem convenient. The reality is that you are probably paying 50-150% more for the conversion costs. This amounts to a possible saving of 1 to 2 percent of the converted amounts. Needless to say, this can add up quickly.
Bottom line: Associations have a million things to take care of when holding an event abroad. Currency exchange might not be top priorities, but dealing with the right provider can ensure painless and consistent savings on all your FX transactions.