News / Regional
Kombis reject rands
03 Nov 2015 at 05:33hrs | Views
Gweru commuter omnibus operators are now rejecting the South African rand arguing they were incurring losses due to the currency's instability.
Since last week commuters were advised that the rand would not be accepted when they paid their fares, with holders of the currency left stranded.
"We would like to advise customers that we no longer accept the rand as kombi fare," read a notice on one kombi plying the city-Ascot suburb route.
The rand was recently slipped against the United States dollar, a situation that has seen many businesses reluctant to accept the currency, because of its value on the international market.
One US dollar is trading at about $1 to R13,50.
A conductor, James Tagwirei said they decided to reject the rand because its instability was causing them headaches in coming up with the best exchange rate.
Since last week commuters were advised that the rand would not be accepted when they paid their fares, with holders of the currency left stranded.
"We would like to advise customers that we no longer accept the rand as kombi fare," read a notice on one kombi plying the city-Ascot suburb route.
The rand was recently slipped against the United States dollar, a situation that has seen many businesses reluctant to accept the currency, because of its value on the international market.
One US dollar is trading at about $1 to R13,50.
A conductor, James Tagwirei said they decided to reject the rand because its instability was causing them headaches in coming up with the best exchange rate.
Source - Southern Eye
