The Reserve Financial institution of Zimbabwe (RBZ) stated Thursday that it was investigating a case of alleged overseas forex alternate fee manipulation following the flighting of two receipts from a good group exhibiting a fee of 1 U.S. greenback to 200 Zimbabwean {dollars} (ZWL).
The official alternate fee as of Tuesday is 1 U.S. greenback to 88.55 ZWL, however the parallel market has its personal concepts, pegging it at above 1: 180 in most transactions.
In an announcement launched Thursday, the RBZ stated its Monetary Intelligence Unit was investigating the allegations which emanated from a social media put up exhibiting a bakery within the mining city of Zvishavane charging both 1 U.S. greenback or 200 ZWL in what it referred to as a “sausage and chips promotion”.
“The Monetary Intelligence Unit is investigating allegations of forex manipulation and pegging of the ZWL at 200 to 1 U.S. greenback circulating on social media. Perpetrators shall be dropped at guide.
“Thanks Zimbabwe for exposing the rot,” the central financial institution stated.
The transfer got here quickly after the central financial institution introduced that it had blacklisted 77 people for facilitating unlawful overseas alternate transactions and cash laundering actions by means of social media. Enditem
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