Exclusive USD pricing illegal


Errant businesses to lose licences

PRICING of goods exclusively in US dollars remains completely illegal and businesses not accepting local currency payments for every product should stop the illegal practice forthwith or risk having their operating licences withdrawn, the Government has said.

Some businesses are pegging prices for some of their products exclusively in US dollars, prejudicing ordinary Zimbabweans.

Notices demanding only US dollars have started appearing on shelves in some major supermarkets and shops across the country, a flagrant disregard of the multicurrency regime law.

Legally, prices can be displayed in either just local currency or in both local currency and US dollars, with the interbank exchange rate plus 10 percent being the only lawful exchange rate allowed.

Customers can offer any currency, again with the same legal exchange rate.

The Government’s clarification of the law follows incorrect interpretations by some traders that they are allowed to charge only in foreign currency since they import their products and do not benefit from the Reserve Bank of Zimbabwe auction system.

About Post Author


Leave a Reply

Your email address will not be published. Required fields are marked *