Despite Being Forced To Leave The Streets , Forex Dealers Still Enjoy Brisk Business
Foreign currency dealers have come up with new plans to continue with their business activities, albeit away from the gaze of the police.
In the past few weeks, forex dealers moved off the streets after the government passed legislation criminalising the practice. Forex dealers now face up to 10 years in jail if convicted.
A foreign currency dealer who spoke to the Daily News said
We are scared that we might be caught and arrested but as you may see, people are struggling to get foreign currency since it’s not there in banks. We are just trying to make a living through this business and at the same time help out those in need foreign currency.
The demand for foreign currency is now even higher since the government said duty for vehicles should be paid in foreign currency. People are only trying to survive these tough conditions.
The government through various policy announcements has insisted that the value of the bond note to the United States dollar remains 1:1.
There is a higher demand for foreign currency after the government announced that duty for vehicle imports is to be paid in foreign currency.
Related:
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Customs Duty On Motor Vehicles To Be Levied In Foreign Currency
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Illegal Forex Dealers Desert Streets After Threats Of 10-year Jail Terms
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10-year Jail Terms For Illegal Currency Dealers
More: Daily News
