News / National
Osiphatheleni halt business
26 Jun 2019 at 07:06hrs | Views
Meanwhile, several illegal forex dealers, Osiphatheleni, had temporarily stopped their operations citing uncertainty over rates.
In some instances rates were said to have tumbled to as low as ZW$5.5 per US$1 and ZW$25 for R100. Members of the public also expressed relief saying the multi-currency regime had become a haven for currency distortions and profiteering by unscrupulous businesses and cartels.
"I think this is good considering that people were economically abusing us in the name of the United States dollar and rand. Everything is rated in forex and I think the new intervention will correct the market," said Mr Effort Tarwirei, a taxi driver.
In some instances rates were said to have tumbled to as low as ZW$5.5 per US$1 and ZW$25 for R100. Members of the public also expressed relief saying the multi-currency regime had become a haven for currency distortions and profiteering by unscrupulous businesses and cartels.
"I think this is good considering that people were economically abusing us in the name of the United States dollar and rand. Everything is rated in forex and I think the new intervention will correct the market," said Mr Effort Tarwirei, a taxi driver.
Source - chronicle
