RBZ Urges Public To Report Supermarkets Using Unofficial Exchange Rates
10 months agoMon, 06 May 2024 05:20:14 GMT
Reserve Bank of Zimbabwe (RBZ) governor John Mushayavhanu has urged members of the public to report supermarkets using exchange rates which are higher than the official rate.
This follows reports that some traders use a higher rate than the official Zimbabwe Gold (ZiG)13,5 to US$1.
In a recent interview with StarFM radio, the Central Bank chief warned that authorities will revoke shop licences of supermarkets found using black market rates. He said:
You should report on supermarkets that are not using the ZiG13,5 rate but a higher rate. We are not going to tolerate that. They are going to get their licences terminated.
ZiG is going to be a stable currency and it is here to stay. Hang on to your ZiG and do not fall for evil people who want to exchange the currency at a high rate.
The ZiG currency, introduced on 05 April 2024, is trading between ZiG17 and ZiG22 for US$1 on the parallel, according to NewsDay.
The Consumer Protection Commission (CPC), the Zimbabwe Republic Police (ZRP) and the RBZ’s Financial Intelligence Unit (FIU) are working together in a blitz on businesses refusing to accept the new currency.
Meanwhile, the Zimbabwe Energy Regulatory Authority (ZERA) on 04 May, issued a fuel review notice indicating prices of petrol and diesel in both USD and ZiG.
However, this does not necessarily mean that fuel is now being sold in ZiG because ZERA has always done the same for Bond Notes even when they were not accepted at the fuel pump.
According to the notice, diesel now costs ZiG22.24 and US$1.66, while petrol is now selling at ZiG21.15 and US$1.58 per litre respectively.
More: Pindula News
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59 Comments
Anonymous · 10 months ago
What you just find is that supermarkets will have commodity shortages especially basics when forced to sale at a compromise. Governor together with the Minister of Finance must have a robust solution and policies where costing is not don in USD but local currency. Government must pay civil society enough salaries to discourage the pressure of costs on them. Police ine nzara inosunga anopenza nzara yake here? Cost regulation is a priority, Gov is a major stakeholder in driving corruption rampant by not addressing wage demands of people who make important decisions for it.
ZiG · 10 months ago
Even here in Chivi all shops are using black market rate
Anonymous · 10 months ago
Choppies Warren Park is not accepting Zig swap transactions
Anonymous · 10 months ago
Supermarkets have increased prices by more than 30 per cent or more in USD and then use the official rate which is why they are empty . Fiu cannot monitor that ???
Eg Bananas at USD 1.40 per kg . Making a mockery of the law . Other vegetables that sells at USD 2.00 are being sold at USD 6.50 per kg .
Anonymous · 10 months ago
Murewa iri kurwadza vari kushandisa rate re20 ndiye ari cheap vamwe 25 26 vamwe vari kutoramba swipe ZiG hanzi hatisati taupgrader system mukauyawo mungatibatsire please murewa marwadzo kana tazogara
At · 10 months ago
chingori chinhu one isu riribhoo nazvo kusvika zvavabhooo
Anonymous · 10 months ago
One currency yakanaka
Anonymous · 10 months ago
Every supermarket in Shurugwi is using black market rates. Why bother reporting something that is now seen as the new normal. It's been like this everywhere in Zimbabwe, and will remain so, before or after ZiG. ZaaC and RBZ FIU just play cat and mouse games and are not interested in arresting the situation, maybe coz their officials are prime beneficiaries of the corruption. I am watching and like Thomas the doubter, will only believe when I see the official ZiG rate in all supermarkets and small shops in my hometown Shurugwi. And why are money changers being arrested everywhere else but not in Shurugwi?
Anonymous · 10 months ago
Dairyboard Rekayi Tangwena its been a month saying POS machines are not working as way to avoid us swiping with any other currency not USD
jack zuma · 10 months ago
zig maya hapana zviripo paya makumbo enyoka
Anonymous · 10 months ago
I think so zvamuri Kuda kuita hazvibatsirei ,madii kuti ane zig akaenda kubank anosvika oriwana ,hapasi pese panoda kutengwa food chete KO mafees emaUSD tobhadhara cy takazara nemazig muma account edu zivai kugadzirisa nyika yenyu mega ,ryt now u big bosses u have billions of USD cash in Ur houses zig hamutorina and hamuride but forcing vakakuisai pazvigaro kushandisa zig, chakakutadzisa kuisa zig renyu riri one as to one neusd chii ,wy did u rate it at first
Anonymous · 10 months ago
Bon marche ,chicken inn are using the rate of 14 to 14.1 wen buying
Anonymous · 10 months ago
Ko ma cio embiri azvitadza here makuda kuti tikuudzei isu zvikuitwa nepick and pay?
Anonymous · 10 months ago
Vasaite kunge vasingatenge kwa Ok nekwa TM.
Mafirakureva · 10 months ago
Give us cell numbers to report those who are using Black market Rstes. Plenty are doinh so
Anonymous · 10 months ago
The black market rate is used to peg the prices in ZIG of many goods in all Supermarkets. Pick and Pay a kg of bream fish was pegged at ZIG189.00 on Saturday 04/05/24 and that is about US14 per kg. ZRP high school yakaramba ZIG kudhara, hazvishandi izvi
Anonymous · 10 months ago
Ini hangu am watching from there sideline. I have lost a lot of money since these stories started imwe yacho yaiva irimari chaiyo ma $1000 note aya ndofunga akaitwa na Moyana here. But I am zii ndichiaona everyday while not affording bread. Saka hey kungotarisa nokuti I will never recover at all
Anonymous · 10 months ago
it is LEGAL to charge a rate of 10% above the official rate!
Anonymous · 10 months ago
Correct, but look at the Bank's buying rate.
catch and release · 10 months ago
That role is suppose to be done by the FIU not general populace. OK and many others shops are in the CBD ngava fambezve kuda kuti vazoti hapana ATI amhan'ara. Asingazive kuti macombi nemashops vari kuramba zig uye vari kutambira vacho rate is 20-22 ndiani
stylez · 10 months ago
azvina zvazvinobatsira zve zig izvo vanhu vezanu nyika ain kwairi kuenda iyi tongai henyu but kwatiri kuend apan amufi makauray black market imbwa dzavanhu
1Jurist · 10 months ago
Call ZACC on this number ( 0719529483)
Jurist · 10 months ago
The guy is probably being framed. It might be a relationship gone wrong. Ku fixer, you know
manhata · 10 months ago
you want them to close
Shumba · 10 months ago
I agree
Shadows Org · 10 months ago
zim in gehena
rx · 10 months ago
RBZ ngaiv**** maShops ayo anoshandisa official rate avo ngavavasiye vachishandisa black market rate nekut kuBlack market ndikwo kwavanowana US$ RBZ Haina
kembo kashiri chinamasa · 10 months ago
It sounds better for one to make a report for zig hike, but police can't simply help as they let go thieves with no action at all. We need hot lines which can treat this as a matter of agency. Ordinary policeman says l am after official assignment only, at the station they say thanks we are to investigate first then all in air it disappears. We need a proper solution with powerful action, otherwise it's corruption everywhere
1
Anonymous · 10 months ago
You cannot fight corruption with the corrupt.
shadows · 10 months ago
plz let's support the governor tivake nyika yedu. zvinobatsirei kuuraya nyika yako uchida kufadza mabhunu. chero zvikaoma sei zanu pf ichatonga kusvika mati eke. ska kuita sabotage is just a waste of your precious tym.
1
@patriot · 10 months ago
Tikwanire ropa rei tichitaura zve useless zig
Account Holder · 10 months ago
Gavhuna Taipei number dzekufona kana WhatsApp kwete kungoti "report report"... TO WHERE?
SC · 10 months ago
ko industry yese nema businesses ese akatorerwa ma license todii?
Patriot · 10 months ago
unthankful British loving Zimbabweans kufarira sabotage on our ZiG currency why do you love to prove slave masters right ...ZANU PF inongotonga ✊🏾🇿🇼...Zimbabwe ndeye ropa
1
🏃♀️ Chi baby Che Zanu 🌊 · 10 months ago
Vanhu vajaira kuita sabotage. So many people are disappointed because governor havana kutanga kubuditsa cash. Vamwe vakatsamwira nyaya yekusungwa kwema money changer. Unotoona kuti njere ishoma
1
Anonymous · 10 months ago
What rubbish. The only people sabotaging the currency are those that make money off the chaos. And that is not business because they are under scrutiny. Save your rubbish West hating rubbish for the muppets that surround you.
🏃♀️ Chi baby Che Zanu 🌊 · 10 months ago
I am impressed by the level of discipline on the streets. Airtime vendors are sticking to stipulated rates. Money changers are scarce.
kkk · 10 months ago
masvingo worse mucheke,rujeko ,hillside rank,yeukai,kmp kwese mapurisa Acho ndiwo ane mashops anodaro Nrichards is at 1:17 USD:ZIG
zig manyama · 10 months ago
most township shops are selling at black market rate of between 18 to 22 zig:usd
Anonymous · 10 months ago
Because people are ****. Kubirirwa mari vakasvinura sematemba.
mm · 10 months ago
where shld we report
mm · 10 months ago
you can't just say report,report,report
🏃♀️ Chi baby Che Zanu 🌊 · 10 months ago
FIU
Anonymous · 10 months ago
If they are serious they should provide toll free numbers for reports. Rigjt now Novafeed is only accepting swipe for their 25kg packages only. Profeeds is using 17zig to 1usd rate
