RBZ Warns Exchange Rates Manipulators

The Reserve Bank of Zimbabwe has issued a stern warning against those it calls currency manipulators who are putting pressure on the forex market intending to destabilise it.

The central bank said it has escalated the issue with the FIU to investigate and freeze the accounts of those involved.

The RBZ posted a statement on Twitter, which read:

It has come to the attention of the Bank that there are some exchange rate manipulators that are exerting pressure on the forex market with the intention of destabilizing the stability that the country has been experiencing over the past four months.

Such malpractice is not warranted as money supply has remained under control for the past five months.

The matter has been escalated to the Financial Intelligence Unit that is proceeding to investigate and freeze the accounts of those upsetting the market.

More: @ReserveBankZim


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