Zimbabwe currency loses half its value in 3 days

Telegraph:

Zimbabwe's beleaguered currency has lost half its value in three days, black market dealers said last night, prompting predictions that the country was plunging into an economic meltdown that its veteran leader Robert Mugabe would not survive.

According to the government in Harare, one US dollar is worth 250 Zimbabwean dollars. But the free market rate yesterday reached more than Z$300,000 to one US dollar.

"It's gone crazy," said one illegal trader. "People are holding out for the highest bidder and mentioning as much as 400,000-1, which could be tomorrow's price. It's changing by the hour. Rates have doubled since the start of the week."

While Mr Mugabe's demise has been predicted time and again over the years, analysts believe that the financial crisis now threatens his hold even on the loyalists who have kept him in power for so long.

...
It would be a mistake to put any limits on Mugabe's incompetence. I think he is capable of new depths.

Now for less than a $5 bill one can be a millionaire in Zimbabwe. I wonder if Soros is buying any Zimbabwe currency?

Gateway Pundit has more on the Zimbabwe crash.

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