In Zimbabwe, a fine of almost $15,000 will be imposed for underestimating the officially established exchange rate of the new national currency, the country’s government announced, Reuters reported on May 10.
Zimbabwe authorities have issued a notice stating that anyone selling US dollars for more than 13.5 ZiG (Zimbabwe’s new currency is Zimbabwe gold) will be subject to a fine of 200,000 ZiG ($14,815). The government explained that the violation “the current interbank currency sales rate” It is a violation of civil law.
Recall that in April 2024, a new national currency was introduced in Zimbabwe, backed by precious metals mined in the country and foreign exchange reserves. The exchange rate against the US dollar is set at 13.5 ZiG per US dollar.
Source: Rossa Primavera
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