For the foreign currency business of treasury deposits, foreign exchange funds need to be exchanged. How many times you need to exchange it depends on the specific situation and use of foreign exchange funds. Generally speaking, the conversion can be carried out in the following aspects:

1. Deposit and withdrawal of foreign exchange funds:

-If foreign exchange funds are deposited or withdrawn in foreign currency, the foreign currency amount needs to be converted into the domestic currency amount.

2. Exchange of foreign exchange funds:

-If foreign exchange funds need to be converted into local currency or other foreign currencies, one or more conversions are required.

3. Settlement of foreign currency business:

-If foreign exchange funds are used for transaction settlement with overseas institutions or individuals, they shall be converted for one or more times according to the specific transaction settlement method.

It should be noted that different countries and regions have different foreign exchange management policies, and there may be additional exchange regulations. Therefore, it is necessary to refer to the relevant local policies and regulations for specific changes.