forex
forex

The government has placed a $6 000 fine for trader demanding forex payments for goods and services.

The recent pricing crisis on the market were retailers are violating national regulation charging foreign currency which has resulted in civil penalties for forex payment as government uses Statutory Instrument (SI) 212 of 2019 exchange control (exclusive use of Zimbabwe Dollar for Domestic Transactions) regulations 2019 published last Friday to stop traders from violating government regulation on foreign currency,

The new regulations make it illegal for one to pay or receive payment in foreign currency in any domestic transaction and failure to comply with the law will result in a $6 000 fine with an additional $100 daily for each day of default.

It has become a civil offense to display, charge and to solicit payment for goods and services fees in any other foreign currency.

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