Although the currency of Mount Vema is a nonconvertible currency, used primarily for internal/domestic transactions and not openly traded on a world forex market, other than the Gollexi. The Bank of Mount Vema announced today that the financial system of the Kingdom of Mount Vema is ready to support processing of Golle-payments in 130+ currencies.
The announcement was also an indication of the Government’s plan to keep the Mount Vema currency mostly as nonconvertible, as part of the evolutionary process of the Kingdom of Mount Vema and, to maintain a protection to the financial system that could be susceptible to sharp movements in the economy at this stage.
Currently, the Mount Vema currency can only be converted into a selected number of leading currencies by any individual or organization with a Mount Vema bank account, a GolleCard account or from authorized and regulated foreign exchange agents. When converting currency through your Mount Vema bank account, you need to check first which currencies are convertible.
The Mount Vema financial system now supports processing Golle-payments in 130+ currencies, allowing Mount Vema bank account holders to receive payments or businesses to charge customers in their native currency while receiving funds in golles. This is especially helpful if a business has a global presence, as charging in a customer’s native currency can increase sales.
From your Mount Vema bank account, or if you use a Mount Vema credit card, debit card or GolleCard, you need to know which currencies you can use to transfer funds out of your Mount Vema bank account, or for making charges in foreign currency. Some currencies can be converted at any time like the U.S. Dollar, the Australian Dollar, the Brazilian Real, the British Pound Sterling, Canadian Dollar, the Danish Krone, the Euro, Hong Kong Dollar, the Japanese Yen, the New Zealand Dollar, the Norwegian Krone, the Polish Zloty, the Singapore Dollar, the Swedish Krona, and the Swiss Franc, but other currencies may be added to the system only from time to time.