NEW: Bureaux de change forex sees spike in demand

The Sunday Mail

Online Reporter

There is growing demand by the public for foreign currency from bureax de change, a recent survey by The Sunday Mail shows.

Earlier this month, the Reserve Bank of Zimbabwe (RBZ)’s Monetary Policy Committee (MPC) resolved that the public wishing to purchase foreign currency are now able to approach any registered bureau de change, and upon the production of a national registration identity card, they can buy the prescribed amount of US$50 per week.

The forex is purchased at the official rate, plus a commission of 10 percent.

The Sunday Mail noted queues of over 100 people at each of the bureaux de change that were surveyed.

At Macsherp Bureau De Change along Nelson Mandela Avenue in Harare’s central business district, members of the public were seen withdrawing forex using swipe cards and cash.

Macsherp Bureau executive director Mr Jimayi Muduvuri applauded Government for the initiative, which ensures that foreign currency is available to the majority in a flexible manner.

He also urged other bureau de change to complement the initiative by identifying themselves and providing sufficient services to the people as prescribed by the RBZ.

“Government through RBZ has licenced us to offer service to people, so every bureau should expose and identify themselves and offer prescribed services to people as an effort to complement government efforts to provide efficient service to the people,” said Mr Muduvuri.