The Reserve Bank of Zimbabwe’s Financial Intelligence Unit (FIU) has issued a statement warning businesses against engaging in foreign exchange rate manipulation.
The FIU said prices must come down and not exceed 10% of the official exchange rate.
The FIU will be escalating measures against delinquent businesses, imposing administrative fines and freezing culprits’ bank accounts indefinitely.
The culprits will also be referred to relevant authorities for the suspension/revocation of trading or operating licenses and prosecution.
The move is set to achieve and maintain price and financial system stability to foster sustainable and inclusive economic development.
