By Own Correspondent- Illegal foreign currency dealers are reportedly counting their losses amid revelations that the parallel market rates are tumbling.

The development, which has been attributed to the measures that were announced by the Reserve Bank of Zimbabwe (RBZ) last Wednesday is also being influenced by a police operation targeting the alternative foreign currency market traders.

Illegal foreign currency dealers who spoke to a local publication said:

“RBZ personnel, working together with the police, are patrolling the streets and searching suspected money changers. If they find you with more than $300, they demand an explanation and … also force you to go and deposit the money in a bank or you face arrest.

… The rates are unfortunately going down because of what (RBZ governor John) Mangudya did. For US$100 we will give you 340 bond or 360 RTGS depending on the numbers.”-DailyNews