Forex traders still in the game

AFTER evading police arrest last week, 34-year-old James, a Harare-based illegal foreign exchange dealer, is still in the game and has devised other means of trading in United States dollar amid a clampdown on foreign currency trading on the parallel market.

A police blitz recently arrested 65 suspected foreign currency dealers as the new Zimbabwe Gold (ZiG) currency showed early signs of fragility on the parallel market.

The ZiG currency was launched early this month when Reserve Bank of Zimbabwe governor John Mushayavanhu released his inaugural Monetary Policy Statement pegging it at a rate of US$1 to ZiG13,56.

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