SUPERMARKETS, food outlets and fresh produce dealers have started
selling their goods in forex in line with Government’s directive to use free
funds for domestic transactions.
Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya,
recently announced that individuals and businesses can now trade freely in forex
and the fixing of the exchange rate at US$1:ZW$25.
According to Dr Mangudya, the latest measures are meant to
assist the country in dealing with the financial vulnerabilities caused by the
Covid-19 pandemic.
In a snap survey by Business Chronicle around the Central
Business District (CBD) retailers like TM Pick n Pay and OK had started trading
in forex and were only accepting USD using the interbank rate.
Choppies Supermarkets around town were not accepting any
forex with staff at the supermarket saying they had not been given the
greenlight by their employers.
“We are still yet to get communication from our bosses on
when we can start selling in forex and until we receive such communication we
will be selling only in Zimbabwean dollars,” said a worker who requested
anonymity.
Forex trading was alive at Greens Supermarket and since
Monday the USD had been pegged at $35, Rand at $1.90 and Pula at $2.80.
Coming on the back of illegal forex trading since adoption
of Zim-dollar last year in June, the business community, both formal and
informal, is also keenly interested in terms of implications of the move on
their operations.
This news crew observed that selected fruit and vegetable
suppliers at the Bulawayo market place, which had been closed when the lockdown
came into effect last week on Monday but reopened on Tuesday following a
directive by President Mnangagwa, were also accepting foreign currency.
As the interbank rate is being used, vendors have
complained that the move affects them as they have no access to forex.
“Where do they expect us to get the foreign currency when
our customers are buying using the local currency.
“In the communities where we sell our produce people will
think we are robbing them if we sell on forex. So, these suppliers should stop
the selling of foreign currency,” said a vendor from Nkulumane 5 Mrs
Simangaliso Mkomo.
In Cowdry Park, foreign currency trades are taking place at
™? Pick and Pay and surrounding shops. Food outlets and shebeens have also
joined the trend.
Even products such as opaque beer are now being sold in
forex. The news crew observed that a 1,25litre of Chibuku Super is now going
for US$1 at one of the popular shebeens in the high density suburbs. Chronicle
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