News / National
Zimbabwe money changers cash of falling rand
09 Nov 2015 at 16:02hrs | Views
Street money changers are recording brisk business with the rand as retailers and informal traders are now shunning the South African currency.
Street money changers, who have been singing the blues since the introduction of the multi-currency regime, said the rejection of the rand by retailers and traders has been a blessing in disguise for them as they are now enjoying rich pickings.
The money changers also claim they are failing to satisfy the demand as the rand in circulation is dwindling.
Confederation of Zimbabwe Retailers President, Denford Mutashu said rejecting the rand is unworkable, adding that engagements are underway to find a solution.
"We are engaging as retailers because government has not announced that we are no longer using the rand," he said.
Zimbabwe adopted the multi-currency system in February 2009 but since then, the US dollar has dominated with retailers rejecting such currencies as the euro, pula or the British pound.
Street money changers, who have been singing the blues since the introduction of the multi-currency regime, said the rejection of the rand by retailers and traders has been a blessing in disguise for them as they are now enjoying rich pickings.
The money changers also claim they are failing to satisfy the demand as the rand in circulation is dwindling.
"We are engaging as retailers because government has not announced that we are no longer using the rand," he said.
Zimbabwe adopted the multi-currency system in February 2009 but since then, the US dollar has dominated with retailers rejecting such currencies as the euro, pula or the British pound.
Source - zbc
