1. If it is stipulated that the Cheque be paid in a country with a currency that is not circulated in it, then its sum shall be paid on the date of its presentation in the currency in circulation in the United Arab Emirates according to its price on the day of payment. If payment is not made on the day of Cheque's presentation, the Bearer has the option between claiming the sum of the Cheque denominated in the currency circulating in the State according to its price on the day of presentation or the day of payment. 2. If the Cheque is presented for the first time after the expiry of the deadline for its presentation, the price of the day on which the deadline for presentation has expired shall prevail. 3. The rate prevailing in the market shall be followed in the evaluation of foreign exchange. However, the Drawer may specify in the Cheque the price on the basis of which the sum to be paid is calculated. 4. If the sum of the Cheque is specified in a currency bearing a common denomination, and its value in the country of issuance differs from its value in the country of payment, it shall be assumed that what is meant is the currency of the country of payment.
Interpretation and application must be checked against the official text and current version.