Can I hold foreign currency in the account that is set up?

We can set up a CFC (Customer Foreign Currency) account should you wish to hold foreign currency. Please note that there are certain limitations on this due to South African Exchange Control regulations:

Businesses:

  • Foreign currency purchased from the spot market can be held for a duration of 30 days.
  • If your business receives foreign currency, you have the flexibility to hold it indefinitely in your CFC account.

Individuals:

  • Individuals can enjoy the freedom of holding foreign currency indefinitely in a CFC Account.

Forex - Services > Can I hold foreign currency in the account that is set up?
Return to Articles
Return to FAQ