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The Reserve Bank of Zimbabwe Financial Intelligence Unit (FIU) said that retailers and manufacturers who were exclusively charging certain goods in foreign currency and using the street market rate for currency conversion have agreed to reconsider their pricing models.
In an interview with <a href="https://www.sundaynews.co.zw/16-bank-accounts-frozen-in-rbz-price-blitz-overpricing-shops-penalised/">State media</a>, FIU director-general Oliver Chiperesa said that the Unit has received assurances from retailers that they will adjust their prices in line with the prevailing official exchange rate while also accepting Zimbabwe dollars for all products. Said Chiperesa:
<blockquote>
We engaged with them and they have assured us that they are relooking into their pricing models.
Yes, some had items that they were not allowing clients to pay for using the local currency, but we have told them that is not acceptable and they agreed to rectify it.
They also assured us that customers will be able to pay in local currency for all goods whose prices have been marked in foreign currency only.
</blockquote>
He, however, said there were still some rogue businesses who they continue to monitor to ensure that they were brought to book.
Chiperesa gave an example of one supermarket in Belvedere, Harare, saying it had a rate higher than the parallel market. He said:
<blockquote>
On Friday we found out that this supermarket was using an exchange rate of US$1:ZW$10 000 which has no relationship with even the parallel market.
So it is just a rate they came up with as forward pricing just to destabilise the rates because the most extreme parallel market rates were 8 000, but they are beginning to go down.
</blockquote>
Last week, the RBZ set the official exchange rate at US$1: ZW$5 900 while the street rate was hovering at US$1: ZW$9 000.
However, some large retailers were using at least US$1: ZW$10 000 for selected products while popular fast-food outlets were rejecting the local currency on the pretext that their point-of-sale machines were not working and therefore could not accept swipe and EcoCash payments.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Pindula News

Shops Agree To Sell Products In ZimDollars At The Official Rate - RBZ

The Government has warned schools, both public and private, against demanding fees exclusively in United States dollars saying the Zimbabwe dollar remains legal tender.
In a press statement released on 12 May 2023, the Ministry of Primary and Secondary Education said parents and guardians should be allowed to pay fees in local currency calculated against the prevailing bank rate. The Ministry said:
<blockquote>
The Ministry of Primary and Secondary Education has noted with concern the demand for school fees and levies in USD by school authorities.
For this reason, all public and private schools must accept all forms of currency payment obtaining in the country for school fees and levies.
Therefore, the demand to receive payment exclusively in USD is not permissible and is contrary to the laws of the land.
For the record, the Zimbabwe dollar is still the legal tender in the country.
Parents/guardians should therefore be allowed to pay fees and levies in Zimbabwean dollars.
Parents/guardians opting to pay school fees in USD or in Rand should be allowed to do so calculated against the prevailing bank rate on the authorized fee and levy structure.
As a matter of fact, no school; public or private should charge fees without the approval of the Ministry of Primary and Secondary Education.
The Ministry of Primary and Secondary Education remains committed to the education of all pupils at institutions that provide primary and secondary education as we strive to provide quality and relevant education to all Zimbabweans.
</blockquote>
The Zimbabwe dollar is increasingly becoming unattractive for businesses and services providers as continues to fall rapidly against other countries in use in the country such as USD, Rand and Pula.
As a result, both formal and informal sectors are demanding payments in foreign currency and where the Zimbabwe dollar is accepted, in most cases the black market rate is used which is more than double the official rate.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Govt Says Forex Only School Fees Illegal

<blockquote>Members of the public should feel free to move from one place to another as police are providing adequate security to business, schools, colleges and residential areas.
In the same vein, supermarkets and shops are implored to display commodity prices in order to allow.
members of the public to access goods and services in an environment which gives them room to plan, coordinate and buy the items freely without any form of manipulation by unscrupulous dealers.
The ZRP warns all those who are charging commodities in United States dollars that they risk being arrested as the law will be applied without fear or favour.
Members of the public should report such people to any nearest police station or the National Complaints Desk on telephone numbers 0242-703631 or WhatsApp number 0712800197.</blockquote>

FULL THREAD: ZRP Warns Businesses Charging Goods & Services In USD

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