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RBZ concerned over notes rejection

by Staff reporter
26 Jul 2021 at 18:26hrs | Views
The Reserve Bank of Zimbabwe (RBZ) governor Dr John Mangudya has voiced concern over unscrupulous traders who are reportedly rejecting small local currency denominations.

This comes as $10 and $5 notes were being rejected at various  trading places across the country.

In an interview he said:

"It's quite unfortunate that some unscrupulous traders do not respect their customers. It might also mean that such traders do not have bank accounts where they are able to deposit their money.

"If they had bank accounts then they would not refuse sales unless if they have other ulterior motives."

The Reserve Bank of Zimbabwe vowed to work hand in glove with Zimbabwe Republic police in order to brought these mischievous traders to book.

"Sure we are working closely with our Zimbabwe Republic Police to stop such practices. The traders are not being sincere to their clients and to the nation as well.

"How come larger retail traders like OK, TM and Spar accept all notes and their volume is much higher than of these informal traders and vendors," said Dr Mangudya.

However, citizens also expressed their disgruntlement over the same issue.

"I am worried about this because going to bank we are given ten and twenty dollars notes since the newly introduced fifty dollars is scarce."

Source - H-Metro

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