RTGS Dollar Crash: Reserve Bank of Zimbabwe Warns exchange rate manipulators

1133

The Reserve Bank of Zimbabwe, RBZ, has issued a warning against exchange rate manipulators who are putting pressure on the Forex market, with the intention of destabilizing the country. This comes as the RTGS has crashed in recent weeks.

RBZ said such practises are not warranted as money supply had remained under control for the past five months.

The Reserve Bank tweeted:

“It has come to the attention of the Bank that there are some exchange rate manipulators exerting pressure on the forex market with the intention of destabilizing it”.

“Such malpractice is not warranted as money supply has remained under control for the past five months”.

The matter has been escalated to the Financial Intelligence Unit that is proceeding to investigate and freeze the account of those upsetting the market.”