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What happens when you send foreign currency to Zimbabwe

by Mandla Ndlovu
25 Jun 2019 at 18:41hrs | Views
The Ministry of Information Publicity and Broadcasting Services has announced that when Zimbabweans in Diaspora send money to a recipient in Zimbabwe there is an option to collect it in the same currency that it was sent in.

Please note that Diaspora remittances shall continue to be received in foreign currency. Recipients shall have 3 options to receive remittances:

In cash
Sell their remittances on a willing seller willing buyer basis to Bureaux de Change, or
Deposit into Individual Nostro FCA

The message was sent after Zimbabweans said they were confused over what happens to their money when it is sent from Diaspora.

MDC Vice President had earlier on allege that the money is collected as local currency using the interbank rate.

On Monday Minister of Finance Mthuli Ncube outlawed the use of multiple currency in Zimbabwe.

Source - Byo24News