I heard the news today oh boy…

27 02 2007

And it was not good. The cash for cash “parallel” market (that’s black market to you) money changing was  7000 Zim dollars to one US dollar. The electronic rate was 8500. That’s 7,000,000 of the money we were using in September ’06. How those with connections to the reserve bank and the official rate of 250:1 must be smiling (see “working the system”)! I’m sure we must be approaching or even passing Nigeria’s level of corruption by now.  To top it all no-one seems to have a clue about the wage and price freeze due next month. I have heard that companies are getting around it by hiking prices massively now and then offering a substantial discount, hey, they have not said you cannot vary your discount; just you may not increase your prices! Hmm, that be a cunning plan that be!

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