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1 million Zim dollars=1 U.S. dollar
 THE black market exchange rate for the US dollar had broken the 1 million Zimbabwe dollar mark, as the country's soaring inflation, fuelled by a crumbling economy, continued to spiral out of control. Worsening currency shortages more than doubled the price of the US dollar in the past 10 days, dealers said. Travellers returning from trips for basics across the country's borders said central bank buyers at the downtown bus terminal offered top black market rates for US, Botswana and South African currencies needed to pay for food, power and petrol imports. The official exchange rate is 30,000 to 1, but in the first week of this month, the black market rate surged to about 520,000 to 1. The International Monetary Fund forecasts inflation reaching 100,000 per cent by year's end. Posted by: Fred 2007-10-20 |
| http://www.rantburg.com/poparticle.php?ID=203094 |