Scarcity Of Bond Notes Creating Arbitrage Opportunities
The scarcity of bond notes in the economy has created an opportunity for unscrupulous individuals to exploit citizens, with the notes being sold at high premiums.
Those with ready access to the notes, such as transport operators, EcoCash agents, tuck-shop owners and fuel dealers are now selling the notes to the public at exorbitant markups as high as 35 per cent for every transaction.
Since the banning of the multi-currency system, some businesses now refuse to accept electronic payments, demanding cash instead.
Electronic payments are not popular due to the high transaction charges like the two per cent transaction tax, transfer fees and several other related fees.
More: ZBC News
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