{"id":39920,"date":"2019-08-28T12:02:23","date_gmt":"2019-08-28T12:02:23","guid":{"rendered":"https:\/\/new.igihe.com\/four-arrested-over-illegal-currency-exchange-in\/"},"modified":"2019-08-28T12:02:01","modified_gmt":"2019-08-28T12:02:01","slug":"four-arrested-over-illegal-currency-exchange-in","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/four-arrested-over-illegal-currency-exchange-in\/","title":{"rendered":"Four arrested over illegal currency exchange in Rubavu"},"content":{"rendered":"<p>Police identified the suspects as Valerie Niyomwizerwa, 32, Clemance Izabayo, 32, Pascasia Musabyeyezu and Florence Irakiza.<\/p>\n<p>Police spokesperson for the Western region, Chief Inspector of Police (CIP) Emmanuel Kayigi said that the suspects were arrested red-handed exchanging money at \u2018Petite Barri\u00e8re\u2019 border post with the Democratic Republic of Congo.<\/p>\n<p>\u201cThey were found with varying amounts of money in different currencies, including Rwanda and Congolese francs, and US dollars,\u201d he explained.<\/p>\n<p>Economists say unlawful financial businesses distort the forex market, trigger dollarization of the economy, fuel inflation and reduce the competitiveness of local products on the international market.<\/p>\n<p>\u201cThis was a regular police operation to crackdown on illegal money exchange especially at the border with DRC, based on credible information on specific people involved and their bases,\u201d the spokesperson said.<\/p>\n<p>Police has warned against illegal currency trade and urged those seeking forex exchange services to go to registered money traders.<\/p>\n<p>According to central bank regulations, no individual or company is allowed to trade-in currencies without a license.<\/p>\n<p>Article 223 of the penal code also specifies that \u201cany person who, by any means, illegally sells or exchanges, national or foreign currency, commits an offense.\u201d<\/p>\n<p>The article further adds: \u201cUpon conviction, he or she is liable to imprisonment for a term of not less than six months and not more than two years or a fine of not less than Rwf200, 000 and not more than Rwf3 million or only one of these penalties.\u201d<\/p>\n<figure class=\"spip-document spip-document-31780 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/kwigana-c8496.jpg\" alt=\"Police has warned against illegal currency trade and urged those seeking forex exchange services to go to registered money traders.\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Four people were yesterday arrested for illegal currency exchange in Gisenyi town, 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-39920","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\/39920","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=39920"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/39920\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=39920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=39920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=39920"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=39920"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=39920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}