Central Banking

Zimbabwe clamps down on illegal FX

Police in Zimbabwe are stopping motorists with road blocks as part of a crackdown on illegal foreign currency trade. The Reserve Bank of Zimbabwe has also set up a unit to probe the flow of local bank-notes to neighbouring countries which led to a four-month long cash crunch earlier this year and prompted the bank to issue high-denomination bearer cheques.

Source: Reuters

Zimbabwean police intensified a crackdown on illegal foreign currency trade on Tuesday, setting up roadblocks in the country

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