How can I replenish a forex account when my central bank heavily restricts foreign currency transfers?

Asked Aug 5, 2018· 1 answer
Faisal KhanAnswered Aug 5, 2018

When a country places outgoing or foreign exchange limits, a new market mushrooms literally overnight, one that expects you to pay a premium and can do exactly what the government does not want you to do.

There are plenty of people in every economy who would be willing to provide such a netting off service for a fee. Meaning they might require you to pay off someone locally in your local currency, whilst for a bad exchange rate, they would top off your foreign account, outside the country.

Informal Value Transfer Systems (IVTS)Underground BankingGrey MarketsInformal Finance
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