Since October 2018, bank accounts in Zimbabwe have been divided into two types: Nostro Foreign Currency Accounts (FCAs) and Real Time Gross Settlement (RTGS) FCA accounts, as part of measures to preserve value for foreign currency and to boost market confidence. The Nostro FCAs are divided into seven categories which are outlined below.


Account DesignationSource of Funds
Nostro FCA (Exports)Export proceeds
Nostro FCA (Offshore Loans)Offshore loan proceeds
Nostro FCA (Investments)Offshore funds provided by a foreign
Nostro FCA (Domestic)Foreign currency cash deposits from local
trade and foreign currency inflows into Trust
Non-Resident Nostro FCAFunded from offshore sources by nonresidents
Individual Nostro FCAFunded with diaspora remittances,
donations and foreign currency cash
Non-Governmental Organisation,
Embassies & International
Organisations Nostro FCA
Funded with funds sourced from offshore

Also read How to open a Nostro Foreign Currency Account in Zimbabwe

A note from StartupBiz Zimbabwe: Everyday we send business updates via Whatsapp. Send the word “Subscribe” via Whatsapp to +263778798072 (StartupBiz Zimbabwe) to receive free business ideas and business tips in your Whatsapp Inbox everyday.