Central Bank warns moneychnagers to abide by official dollar exchange rate
The UAE Central Bank has warned moneychnagers to abide by the official dirham exchange rate against the US dollar.
The Central Bank announced that it had noticed that some moneychangers took advantage of the rumors promoted by some speculators, and raised the exchange rate of the Dirham against the US dollar on 1st and 2nd of December, despite clarifications from the bank that there was no intention to change the current exchange rate.
"Therefore, the Central Bank decided to deduct from the accounts of the concerned moneychangers and pay the difference in exchange rate to the harmed persons", said the bank in a statement.
It added that "The Central Bank requests the harmed persons who exchanged their dollars at less than the usual exchange rate on 1st & 2nd December, to send their original documents to: P.O. Box: 448 -Dubai Attention Mr. Sultan Ali Jasim within a month from date, and the Central bank will arrange with the concerned moneychangers to send the difference amount to their addresses".
The Central Bank urged all moneychangers to abide by Central Bank Regulations at all times, and noted that the Central Bank will enforce some more severe penalties in case of similar violation in the future.
"This action of some moneychangers is harmful to the tourism industry in the country and harmful to the National Economy, therefore, these moneychangers must observe the national interest and contribute to the well being of the Economy and not do the contrary." the statement said. (WAM)
The Central Bank announced that it had noticed that some moneychangers took advantage of the rumors promoted by some speculators, and raised the exchange rate of the Dirham against the US dollar on 1st and 2nd of December, despite clarifications from the bank that there was no intention to change the current exchange rate.
"Therefore, the Central Bank decided to deduct from the accounts of the concerned moneychangers and pay the difference in exchange rate to the harmed persons", said the bank in a statement.
It added that "The Central Bank requests the harmed persons who exchanged their dollars at less than the usual exchange rate on 1st & 2nd December, to send their original documents to: P.O. Box: 448 -Dubai Attention Mr. Sultan Ali Jasim within a month from date, and the Central bank will arrange with the concerned moneychangers to send the difference amount to their addresses".
The Central Bank urged all moneychangers to abide by Central Bank Regulations at all times, and noted that the Central Bank will enforce some more severe penalties in case of similar violation in the future.
"This action of some moneychangers is harmful to the tourism industry in the country and harmful to the National Economy, therefore, these moneychangers must observe the national interest and contribute to the well being of the Economy and not do the contrary." the statement said. (WAM)
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