Zimbabwe authorities demand businesses use official rate

Reserve Bank of Zimbabwe
Harare skyline, including the Reserve Bank of Zimbabwe tower in the centre
Photo: Baynham Goredema/Flickr

Financial regulators have demanded Zimbabwean retailers and industrial producers cease charging customers foreign currency prices at the market exchange rate, the Sunday Mail newspaper reports.

The Financial Intelligence Unit, an agency under the Reserve Bank of Zimbabwe, ordered businesspeople to attend a meeting on the subject on July 19.

The FIU complains that merchants can obtain foreign exchange at an advantageous official rate. As of July 19, the RBZ sold US dollars at auction at about

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