The arrest is part of the ongoing operations against illegal dealers in foreign currency exchange business. <\/p>\n
Police spokesperson for the Western region, Chief Inspector of Police (CIP) Innocent Gasasira identified the suspects as Christian Bahati and Elina Musabyimana, who after the search were found with $ 3, 045 and 670, 200 Congolese francs, respectively. <\/p>\n
The duo arrested on Saturday was also found in possession of Rwf130, 000 and Rwf147, 000, respectively.<\/p>\n
Speculators and illegal money-changers have often been blamed for the volatility in the currency market.<\/p>\n
CIP Gasasira said that the duo was arrested red-handed, exchanging money in Gasutamo Village, Mbugangari Cell.<\/p>\n
\u201cThis was a Police targeted operation based on credible information on specific people involved and their bases. What they were doing is illegal and has negative impact on the economy,\u201d he explained.<\/p>\n
The arrest of the duo came few days after two other women were apprehended in the same area over similar crime.<\/p>\n
Economists say that unlawful financial businesses could distort the forex market, trigger dollarisation of the economy, fuel inflation and reduce the competiveness of local products in the international market.<\/p>\n
According to Central Bank regulations, no individual or company is allowed to trade in currencies without a license.<\/p>\n","protected":false},"excerpt":{"rendered":"
Two unlicensed money changers have been arrested in Gisenyi Sector, Rubavu District.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-39522","post","type-post","status-publish","format-standard","hentry","category-news","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/39522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=39522"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/39522\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=39522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=39522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=39522"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=39522"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=39522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}