Financial Intelligence Unit Urges Public To Report ZiG Currency Violation

The Reserve Bank of Zimbabwe’s Financial Intelligence Unit (FIU) has appealed to members of the public to report business operators who are rejecting the ZiG or charging above the official exchange rates.

In a statement on Tuesday, the FIU shared a hotline and WhatsApp number where members of the public can report such businesses. It said:

Please report traders who are refusing to accept ZiG or are exceeding the official ZiG / US$ exchange rate to the Financial Intelligence Unit on Hotline and WhatsApp numbers: 0714039897/0780434475.

The ZiG, short for Zimbabwe Gold (ZiG), was launched in April 2024 to replace the Zimbabwe dollar, which had been rendered useless by runaway inflation.

Since its introduction, the ZiG has remained stable against the US dollar contributing to a drop in inflation and increasing the buying power for consumers.

However, some businesses are rejecting ZiG and insisting on US dollar payments while some of those that are accepting the new currency are charging above the official exchange rate.

More: Pindula News