‘End of official rate-based pricing, not exchange rate relaxation’

LEGAL think tank, Veritas, says the government’s move to end the official rate-based pricing of goods and services is not a relaxation of exchange controls as authorities have proclaimed.

Two weeks ago, the Treasury introduced Statutory Instrument (SI) 34 of 2025, repealing SI 81A of 2024, which penalised anyone pricing goods or services above the official exchange rate.

The repeal allows businesses to price goods and services as they see fit according to market dynamics.

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