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*"We Needed To Close Loopholes Used To Manipulate Forex Exchange Rates" Mthuli Ncube* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?on Finance Minister, Professor Mthuli Ncube has said that the country needed to close loopholes which were now being used by some individuals and or groups to manipulate the foreign currency exchange rates. Ncube said: > It’s very clear that we needed to close those loopholes that some have taken advantage of and manipulate the exchange rate of the currency. Ncube speaks after the central bank, the Reserve Bank of Zimbabwe has frozen bank accounts owned and linked to individuals and companies alleged to be involved in money laundering. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- Sakunda Holdings is one of the companies whose bank accounts were frozen. The company is owned by Kuda Tagwirei who is believed to have strong ties with President Emmerson Mnangagwa’s administration. After RBZ froze the accounts, the exchange rates on the parallel market which had reached about ZW$25 to the US dollar, dramatically fell to about ZW$15 per US$. Prices of goods and services had been increased as the local currency, Zimbabwe Dollar continued to lose value on the market. More: The Herald _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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