Forex traders promise to return to the streets within weeks

Vice President Constantino Chiwenga recently issued a chilling warning to illegal money changers, saying those involved in the trade risk losing their limbs.

NewsDay He interviewed several currency traders who dismissed Chiwenga’s threats.

A currency trader in Harare said they had devised other means of trading in US dollars. He said:

We are all in this mess together. The police can come to attack us on Chiwenga’s orders, but after work they will come to ask us for US dollars.

We are not on the streets, but now we have other means of trading and this can be done through a phone call and what we are doing is not seen on the sidewalks because we are now cautious in everything we do.

In a few weeks we will return to the streets, we are like sellers and we also want to make a living.

Another foreign exchange trader said illegal foreign exchange trading will only be tackled if the government ensures that both the rich and the poor have access to US dollars. He said:

If the government wants everything to be normal, everyone should now have the US dollar, regardless of whether they are rich or poor.

If you want to look at it, the US dollar circulates only among the rich and that is why it is difficult for most people.

The illegal money changers alleged that some police officers were accepting bribes from some money changers at the time of their arrest.

However, Zimbabwe Republic Police (ZRP) spokesperson Paul Nyathi, Deputy Commissioner, dismissed the allegations. He said:

I’m not even aware of it and people with evidence should come forward so we can carry out our own investigations.

Meanwhile, economist Gift Mugano said the government and not the money changers were to blame for the exchange rate volatility. He said:

I don’t want to seem like I’m fighting for the black market. The biggest challenge we have is the Treasury, which injects liquidity into construction works.

If they arrest the Copacabana money changers they are doing nothing. These people are unemployed and the government is marking the wrong man.

The wrong man is the Ministry of Finance, which is using the wrong model to finance infrastructure; You can’t finance infrastructure with cash.

The money changers in Road Port are just part of the ants on a mountain and the mountain is the Treasure.

Do you think the government has enough police to arrest seven million people because almost all of them change money in the parallel market?

Since the Government introduced the multi-currency system several years ago, illegal currency trading has become common.

This change is due to the fact that many employees receive their salaries in the local currency, while certain goods and services (such as fuel and rent) are traded only in foreign currency.

More: Pindula News

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