RBZ goes after “exchange rate manipulators.”

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ZTN Reporter

The Financial Intelligence Unit of Zimbabwe’s central back is investigating individual and companies suspected of involvement in illicit foreign exchange deals.

In a couple tweets this morning the Reserve Bank of Zimbabwe warned that accounts of those found on the wrong side of the law will be frozen.

“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,” said the RBZ.