Frank Ntarindwa<\/b><\/p>\n
Africa-Press – Rwanda. <\/strong><\/span>The central bank has suspended six forex bureaus and penalised about 10 others for deliberately withholding the US dollar, causing its scarcity and making it hard to find on the market. The suspension is three months long, The New Times learnt.<\/p>\n This follows reports from various parts of the country, particularly in Kigali, of a shortage of US dollars on the market. People have been unable to find any after visiting several forex bureaus.<\/p>\n Speaking to the media, John Rwangombwa, the central bank governor, said what has been done is illegal and the claim about the scarcity of dollars in the market is not true.<\/p>\n The penalised forex bureaus are accused of deliberately withholding the US dollar, causing its scarcity and making it hard to find on the market.<\/p>\n Rwangombwa clarified that the assertion of a shortage of dollars in the market, making it difficult for people to obtain them, is completely false. In fact, the demand for dollars has risen since June of this year, he stated.<\/p>\n This is evidenced by the weekly sales of $10 million, which would not be possible if there were no dollars in the market, as some have claimed.<\/p>\n \u201cTherefore, the action was taken after a team from NBR inspected various forex bureaus in search of dollars, which they initially couldn\u2019t find. However, those financial traders later provided the dollars to some customers.<\/p>\n \u201cThe decision was taken based on what was captured by their CCTV cameras, leading to penalties for some and temporary closure of six,\u201d he said.<\/p>\n \u201cWe understand that some traders might be withholding dollars to manipulate their price for high profit, but the central bank warns against such practices, and those caught will face consequences.\u201d<\/p>\n Vianney Gasana, owner of one of the suspended forex bureaus in Gisementi, a commercial area in Remera sector, Gasabo District, said, \u201cI cannot comment on the recent information provided by NBR. Whether it is true or not, I have nothing more to add to it.\u201d<\/p>\n Annick Gashagaza, another forex bureau owner in the same area, said, \u201cMy office was closed on October 20, but I cannot provide any information about the reason as to why it was closed.\u201d<\/p>\n She added: \u201cOnce I have clarity on the cause, I will address it, but for now I cannot provide any explanation.\u201d<\/p>\n\r\n