“Defiant” Traders Charge Prices In Forex
12 October 2019
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Defiant traders in Harare are still charging their products and services in foreign currency.

Despite the promulgation of a new law stipulating a $6 000 fine for anyone found pricing goods and services in foreign currency, some traders still take the law into their own hands.

Investigations by The Herald revealed that the products are being priced in a way that indirectly forces people to buy in foreign currency.
When paying in local currency, charges will be too high, leaving buyers with no other option but to pay in foreign currency.

The SI 212 published last Friday in terms of Section 2 of the Exchange Control Act (Chapter 22:05), makes it illegal for one to pay or to receive payment in foreign currency in any domestic transaction.

It means that it has become a civil offence to pay or receive payment in foreign currency.

The SI further expands the circumstances where such receiving or paying in foreign currency is unlawful.

It also says quoting, displaying, charging, soliciting for payment or receiving payment for goods, services, fees or commission in any other foreign currency is an offence.
The resistance by some traders in the city indirectly seeks to dollarise the economy.State media