Abstract
Foreign Currency judgments are a recent innovation, no doubt but are likely to be a tremendous boon to the commercial world. In the era of enhanced global trade made possible through breaking down of barriers of all kinds, it would be improper for the law to adhere to rigid and wooden rules like currency and breach date rules. There can be no problem if the currency indicated in an order or award is the same as that is in vogue in the nation. However due to the international nature of dispute settlement, currency expressions may be alien to the place where the judgment or award is finally enforced.6 There can also arise the question whether judgments or awards expressing the sum payable in a currency foreign to the place of enforcement is valid at all. Even assuming that they are, what would be the appropriate way that they are given effect to? How are they to be treated if they are to be converted into the forum's currency? What rate will apply considering the fluctuating nature of foreign exchange rates.
Recommended Citation
Raghavan, Vikram
(1998)
"Foreign Currency Judgments: Need for a Proper Legal Regime,"
National Law School Journal: Vol. 10:
Iss.
1, Article 4.
Available at:
https://repository.nls.ac.in/nlsj/vol10/iss1/4