When the quantum of loss suffered depends on the volatility of foreign exchange rates
Disputing parties can spend significant time and resources to quantify a damages claim. When the issues in debate involve foreign currencies, exchange rates can have a significant impact on the award of damages.
In this article, Sally Davitt, a Director in our Sydney office, and Nelvin Tam, an Executive Analyst in our Sydney office, consider a recent case which shows that the currency in which an amount of damages is calculated, and the associated date of conversion, can have a significant effect on the final amount payable.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
