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Q: What can you do without of circulation foreign currency?
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Can bank convert foreign currency to home currency without customer's approval?

If a customer receives a bank transfer in a foreign currency to his/her account it is standard practice to convert it into the currency of the account.


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Currency in circulation is reffering to the money being used currently. The money you give to and get from anywhere is "circulated" currency


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An appreciation in a foreign currency creates a foreign exchange gain when the foreign currency is to be received. A decrease in the value of foreign currency creates a foreign exchange gain when the foreign currency is to be paid. (Hoyle, Schaefer, Doupnik, 2009, pp. 328)


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