Vendors Initiative for Social and Economic Transformation, VISET has urged the Reserve Bank of Zimbabwe and the Finance Ministry to combat parallel market activity with regulations that they enforce to ensure currency and price stability in the country.
In an interview, VISET President Samuel Wadzayi said businesses are not to blame, because the parallel market will die a natural death if legislation is in place to arrest culprits.
Independent economic commentator Masimba Kuchera called on fiscal authorities to grow teeth in the currency fight.
The Reserve Bank of Zimbabwe (RBZ) recently warned that days are numbered for currency speculators whose activities have resulted in the illicit trade thriving again fueling currency and price volatilities in the market. The local currency was this week trading at ZWL$950: US$1 on the parallel market from about ZWL$800:US$1 two weeks ago.
