National University of Science and Technology (Nust) acting communication and marketing director Mrs Lindiwe Nyoni confirmed the institution is now demanding fees in foreign currency from foreign students.
Nyoni said local students will not be affected. Said Nyoni:
Following the introduction of Foreign Currency Accounts Nostro Accounts, the Nust Finance Committee recommended that international students pay fees into the Nostro Account as a way of creating foreign currency reserves for the institution. This is in line with the Government policy of encouraging both organisations and individuals to open such accounts where they anticipate income in foreign currency. This is a measure taken to strengthen the multi-currency system for financial and price stability and to increase inflows of foreign currency.