how currency is converted ?

[extremedox101]

if i'm sending wire from my location in local currency . the local banks don't allow the currency to be converted to major foreign currency but the receiving bank only take foreign currency ?

who will convert the currency so the receiver accept it ?

thanks

 

[diablo]

I think it's the receiver bank that will do the Exchange. That's how my bank does it.

 

[extremedox101]

I think it's the receiver bank that will do the Exchange. That's how my bank does it.

this make sense , i hope it will work .... "the local banks see foreign currency as kind of precious metals"