Editor, RE: “Who’s hiding dollars?” (The New Times, August 2). Such an interesting article! I used to receive my monthly stipend from Rwanda while I was studying in Asia and this used to come in US dollars. Like any foreigner, I was never allowed to collect the little sum in USD since my expenditures were set to be in local currency. When I insisted to have my payment in USD, I was told to first secure an authorization from the central bank and the process would have been too complicated for a student. During my two-year stay in that country, 1 USD was worth 3.3 the first day I landed down there and 2.6 by the time I left. This clearly explains how strong monetary policies, among other things, contribute to their economy. Like it is the case in that country, I wonder why the central bank (BNR) cannot restrict foreign currency circulation and set up proper monitoring techniques to ensure that only authorised people have access to foreign currencies. I am aware of individuals here in Kigali who impose payments in USD, especially in the hospitality industry, and I find this insane, particularly since BNR is pretty much aware that the scarcity of foreign currency can shake our economy at any time. Why wouldn’t they feel the pressure to step up and stop all of these malpractices? NJC
