The Hague: A Greenpeace employee has been fired after losing the environmental charity €3.8 million euros ($5.5 million) in a failed gamble on international currency markets.

"Nothing suggests at this point that he acted for personal gain, it seems to be a terrible miscalculation," Greenpeace communications director Mike Townsley said.

"A terrible miscalculation": $5.5 million lost in a failed gamble on currency markets. Credit:AFP

The unnamed employee "went above his authority" in agreeing the deal with a broker who was meant to mitigate currency losses for the charity, he said.

"The contract turned out to be a very bad one," Mr Townsley said, adding that an internal investigation was under way.