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Traders in Masaka Grapple with Fake Currencies

News
The grasshopper season in Masaka comes with possibilities of earning an extra dime for grasshopper dealers. But the story this season is different.
Grasshopper traders are crying foul over the increasing circulation of counterfeit notes which is threatening their business.
Some people are taking advantage of the grasshopper dealers to circulate their fake notes. The grasshopper business is seasonal and in most cases the dealers are usually the once off traders some of who are illiterate and cant detect the fake currencies. The fake currency is being circulated mainly in the 10,000 and 50,000 shillings deniominations.
But the shop attendants bar maids and restaurants operators are equally affected by the fake currencies. At the end of a good business day, grasshopper dealers tend to flock into bars and shops looking for goods and end up transacting their business using the fake currency.
Juliet Nansamba, a shop attendant of Kasana zone in Nyendo trading centre, approached police yesterday seeking their intervention. She said that there is a sudden upsurge of fake currency notes in circulation.
Nansamba admitted that she has lately become a victim because she doesn't know how to detect fake currency notes. She said that she has collected a lot of fake currency and is finding it difficult to stock up her shop because her currency is being rejected.
The police in Masaka have launched a search for people suspected to be the source of the fake currency. One woman has so far been arrested after she issued a 10,000 shilling fake currency note to gretton hotel in Nyendo.

fake currency

Type Report
Freelance author No
Location Masaka, Uganda
Accepted on 2008-11-05 13:51:58

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