Daily transaction limits reduce C-Trade volumes

ESCROW Systems (Pty) Ltd managing director Simbarashe Machanzi says daily maximum transaction limits on banking and mobile money platforms have reduced volumes on C-Trade. In an effort to curb the parallel market foreign currency rate currently at US$1:$130, the central bank in May reduced daily and monthly transaction limits to $20 000 and $100 000. However, the move has negatively affected Escrow Systems, a subsidiary of the Escrow Group, and creators of the mobile-based C-Trade trading platform.

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