Forex dealers on the prowl at the bureau de change centres

By Theophilus Chuma

SUSPECTED underhand dealings have marred the weekly 50 United States dollar withdrawal at the bureau de change facilities, depriving several ordinary citizens of access to the service.

It is 4 am and the ques start building. Maybe today will be different, but this too may be a far-fetched hope.

Accessing the 50 United States dollar note is proving to be a mammoth task for the ordinary client, amid allegations of rogue forex dealers who are now manipulating the system for selfish interests. 

Despite arriving early at one of the bureaus de change centres, we were given a number that was a far cry from the people who were already queuing for the service.

It is a situation replicated at most of these centres, as people desperately wait to access the withdrawal facility opened to ordinary walk-in clients.

The pain is felt in their voices.

But what is it with the numbers that continue to flood these centres?

“We are overwhelmed by the numbers that we are serving and we suggest that probably these allocations can be increased and made every month.”

Even then will this address the situation, given that some centres are serving only between 20 or 30 clients per day?

The story may go beyond just the long queues. 

Confidential explanations availed to this news crew reveal that some of the bureaus de change centres may have several branches and could be limiting clients at these points to meet demand.

While this is understandable, the current situation where some have only one operating branch raises questions about the disbursement of these funds.

If the information availed to this news crew is anything to go by, some centres are said to be accessing at least US$20 000 from the central bank weekly to channel towards this facility.

If calculated against the number of those being served daily and collated over a week, other issues pointing to underhand dealings begin to emerge.

The post Forex dealers on the prowl at the bureau de change centres appeared first on ZBC NEWS.

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