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Minister Raj Modi's shop demands foreign currency...rejects Zimdollar and bond notes

by Mandla Ndlovu
25 Jun 2020 at 15:25hrs | Views
The Bulawayo based Wholesale Centre Liquor Hub owned Deputy Minister of Industry and Commerce  Rajeshkumar Indukant Modi is reportedly refusing to accept bond notes and local currency as a medium of exchange.

Fresh In a Box leader Kuda Musasiwa took to Twitter to share his experience at Minister Modi owned liquor store.

"Just buying some drinks for my In-laws at Hon. Raj Modi's store. 1) They only take Forex Cash 2) They turned a man who had a suitcase of bond notes sayin it's not money!" Musasiwa posted.

The incident comes barely two days after reports that small-scale retailers have started rejecting coins, $2 and $5 bond notes, demanding, instead, to be paid in foreign currency.

The Daily News carried a story on Tuesday that shops in downtown Harare are refusing to accept the $2 and $5 notes, with the inscription bond note on the top right corner on the pretext that the same are being rejected where they buy foreign currency to import goods.

The Reserve Bank of Zimbabwe (RBZ) has introduced, with effect from the past Tuesday, a dual pricing system, which will see retail shops pegging their prices in both the local currency and US dollar at the prevailing market rate.

Source - Byo24News