The Zimbabwe dollar has been pegged at $108.67 against the United States dollar since the last foreign currency auction on 14 December.
The auction was supposed to resume yesterday but was postponed by a week because dealers were not able to process bids on time.
In a statement today the central bank said its Financial Intelligence Unit (FIU) was investigating cases of breaches of the Bank Use Promotion Act and currency manipulations by some business entities.
“The breaches have become particularly pronounced and prevalent at some schools and pharmacies,” it said. “The FIU will deploy all tools at its disposal to deal with such malpractices including imposition of fines, freezing of bank accounts and blacklisting from enjoyment of financial services.”
Zimbabwe postponed the re-opening of schools, which was scheduled for 10 January, until it reviews current lockdown restrictions probably tomorrow or on Friday.
(158 VIEWS)
Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…
Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…
Nearly 80% of Zimbabweans are against the extension of the president’s term in office, according…
The government is the biggest loser when there is a discrepancy between the official exchange…
Zimbabwe is currently in turmoil after it devalued its five-month old currency, the Zimbabwe Gold…
Zimbabwe today devalued its local currency, the Zimbabwe Gold (ZiG), by 44% to trade at…
