Opinion / Columnist
Banks must stop disbursing forex
06 Nov 2018 at 05:27hrs | Views
If there is no leakage of forex from official institutions then the obvious source of forex on the black market are people in the diaspora who send home US dollars through Mukuru, Western Union, Money Gram, and by means of public transport.
Those who receive such money in hard currency never use the banking system but the black market.
Those who sell tobacco get some of their pay-outs in forex. Small-scale gold miners also get forex. If these guys get the forex as cash then obviously it finds its way to the black market.
Banks should never dispense forex as cash until we are able to generate enough through exports.
Goto.
Those who receive such money in hard currency never use the banking system but the black market.
Banks should never dispense forex as cash until we are able to generate enough through exports.
Goto.
Source - Goto
All articles and letters published on Bulawayo24 have been independently written by members of Bulawayo24's community. The views of users published on Bulawayo24 are therefore their own and do not necessarily represent the views of Bulawayo24. Bulawayo24 editors also reserve the right to edit or delete any and all comments received.
