In my experience dealing with this, it depends on who initiates the refund.
If the consumer initiates the chargeback, it will be handled in the consumer's currency. Which will result in a fun reconciliation problem for the business.
If the company initiates it will be done in the currency it was originally charged in. Which will give the consumer more or less money depending on exchange rates.
If the consumer initiates the chargeback, it will be handled in the consumer's currency. Which will result in a fun reconciliation problem for the business.
If the company initiates it will be done in the currency it was originally charged in. Which will give the consumer more or less money depending on exchange rates.