The method of converting foreign currency into RMB shall be calculated according to the foreign exchange quotation. Foreign exchange quotation refers to the exchange rate at which one currency is converted into another. In China, the foreign exchange quotation is issued by the State Administration of Foreign Exchange, which is adjusted according to the market situation every day.
Under normal circumstances, the conversion of foreign-related litigation objects will be calculated according to the foreign exchange quotation at that time. If the exchange rate changes during the trial period, it needs to be recalculated.
It should be noted that in foreign-related litigation, if the subject matter involves interest, liquidated damages, etc. , also need to be converted into RMB for calculation. At the same time, due to the influence of foreign exchange fluctuations, the converted amount may be biased. Therefore, in foreign-related litigation, we need to pay special attention to the accuracy of the converted object.