Financial News

ANYONE SELLING IN USD WILL BE ARRESTED – ZRP

Police have warned business entities and individuals against charging goods and services in foreign currency saying the long arm of the law will catch up with them.

The government last week scrapped the multi-currency system and adopted a single domestic transactional unit, through Statutory Instrument 142/2019. The Zimbabwean dollar (bond notes, coins and RTGS) is now the sole legal tender. Despite the law banning the use of other currencies, some businesses have continued selling their good and services in foreign currency.

In a statement, national police spokesperson Assistant Commissioner Paul Nyathi urged members of the public to report those acting contrary to the law.

“In the same vein, supermarkets and shops are implored to display commodity prices in order to allow members of the public to access goods and services in an environment which gives them room to plan, coordinate and buy the items freely without any form of manipulation by unscrupulous dealers.

“The ZRP warns all those who are charging commodities in United States dollars that they risk being arrested as the law will be applied without fear or favour. Members of the public should report such people to any nearest police station or the National Complaints Desk on telephone numbers 0242-703631 or WhatsApp number 0712800197,” Asst Comm Nyathi said.

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