By Own Correspondent- Some foreign currency dealers are reportedly suspending business whilst some are paying less Zimbabwean dollars for the US$.

This follows the reintroduction of the Zimbabwean dollar which outlawed the use of all foreign currencies for domestic transactions.

Illegal forex traders are reportedly currently paying about ZW$6 for US$1, a sharp decline from the ZW$13 per every US dollar which was now being paid on the black market.

The plunge is attributed to uncertainty ushered in by the central bank’s Statutory Instrument 142 of 2019 announced yesterday by government.

Considering that the SI bans the use of all foreign currencies for domestic transactions, consumers who do not buy goods from beyond the Zimbabwean borders might be finding it difficult to part ways with the ZW$.

Despite attempts by government officials to allay fears, some stakeholders are reportedly concerned about the new currency which they think might also fail.