So here's the situation. The official exchange rate to the dollar is say 10. The unofficial exchange rate is 10,000. You are friends with the moron corrupt thief of a President. So he signs a letter stating that the central bank will give you dollars at the official rate of 10. So what do you do? You take the dollar and pay 10 to the central bank. Then you sell the dollar in the open market for 10,000. And repeat.
But the economy is collapsing, the main dollar earning industries of tobacco, agriculture and mines are collapsing, dead, or taken over. When they are not, they do not have electricity, water, raw materials or anything. They cannot import equipment or raw materials because they cannot afford it, they arent friends with the moron president and his gang of robbers. So no exports and that means no dollars.
So the central bank devalues the local currency. Will that help? of course not, it just means that instead of the dollar costing 10, it now officially costs 100. What's the street price? well, that's gone up correspondingly and is now 30,000.
See what the BBC has to say: One US dollar now buys 30,000 Zimbabwe dollars on the official market, having previously earned 250 Zimbabwe dollars. However dealers said that on the illegal market, $1 was buying 250,000 of the Zimbabwean currency
How funny and amusing for us, how sad for all the Zimbabwean allies and other assorted idiots who think of the Great Thief Mugabe as the great white shining hope of anti-imperialism.
All this to be taken with a grain of piquant salt!!!
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