(1) If, after an obligation is expressed or a loss is incurred in a foreign money, the country issuing or adopting that money substitutes a new money in place of that money, the obligation or the loss is treated as if expressed or incurred in the new money at the rate of conversion the issuing country establishes for the payment of like obligations or losses denominated in the former money.
806.41.Effect of currency revalorizations.
Ch. 806: Judgment · Last amended 1991 · Last verified July 15, 2026
In one sentenceSection 806.41 provides that when a country replaces its currency with a new one, an obligation or loss expressed in the old currency converts at the issuing country’s own official rate, and requires a court or arbitrator to amend an already-entered judgment or award to match.
Full Text of Section 806.41
(2) If substitution under sub. (1) occurs after a judgment or award is entered on a foreign-money claim, the court or arbitrator shall amend the judgment or award by the rate of conversion of the former money.
Plain-English Summary
Currencies sometimes get replaced entirely, not just revalued. Section 806.41 addresses that situation. Subsection (1) provides that if, after an obligation is expressed or a loss is incurred in a foreign money, the country issuing or adopting that money substitutes a new money in its place, the obligation or loss is treated as if it had been expressed or incurred in the new money, at the rate of conversion the issuing country establishes for paying like obligations or losses denominated in the former money.
Subsection (2) extends that same principle to judgments and awards already on the books. If the currency substitution happens after a judgment or award has been entered on a foreign-money claim, the court or arbitrator must amend the judgment or award using the rate of conversion of the former money, so the recovery keeps pace with the currency the issuing country replaced it with.
Frequently Asked Questions
What happens if the country behind my claim’s currency replaces that currency with a new one?
Subsection (1) treats the obligation or loss as if it had been expressed or incurred in the new money, at the rate of conversion the issuing country establishes for paying like obligations or losses denominated in the former money.
Who sets the conversion rate between the old and new currency?
The issuing country. Subsection (1) uses the rate of conversion that country establishes for the payment of like obligations or losses denominated in the former money.
What if the currency substitution happens after a judgment has already been entered?
Subsection (2) requires the court or arbitrator to amend the judgment or award by the rate of conversion of the former money.
Does this section apply only to judgments already entered, or also to claims still being litigated?
Both. Subsection (1) covers an obligation or loss generally, before judgment, while subsection (2) separately addresses amending a judgment or award already entered on a foreign-money claim.
Do I need to file a new lawsuit to get a judgment updated after a currency substitution?
No. Subsection (2) has the court or arbitrator amend the existing judgment or award; the section does not call for a new action.
Amendment History
History: 1991 a. 236.
Source & verification. Section text and official notes are
reproduced verbatim from the Wisconsin Statutes, published by the
Wisconsin Legislature (Legislative Reference Bureau). Last verified July 15, 2026.
· Official source
Also known as: currency redenomination judgment wisconsinforeign currency replaced new money wisconsinamending a judgment after currency change wisconsin