Originally posted by nev coss
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I was in Zimbabwe in 2002 visiting in-laws and needed to exchange some money. I had US dollars on me, the official rate at the time was about 170 Zim dollars to 1 US. The guys on the street (black market) were offering 1,500, nearly 10 times the official rate. Of course I thought the black market guys were selling rolled up paper covered by maybe one real note so I used the official place.
It turned out later, from talking to some people, that those guys in the street were selling real money, at 10 times the rate. They were simply so desparate for hard currency, Zimbabwe banks wouldn't sell hard currency to locals, that's what they were doing. They saw where it was going I suppose, the last I heard of that exchange rate was in the trillions to one.
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