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 HARARE, Zimbabwe (AP) - The economic chaos engulfing Zimbabwe has turned even a mundane task such as renting a car into an unachievable dream for the average law-abiding citizen.
A car rental company on Saturday quoted a day rate of 690,000 Zimbabwe dollars to hire a basic model, plus a deposit of 25 million Zimbabwe dollars. This is the equivalent of a staggering $2,760 per day — plus a deposit of $100,000 — at the official exchange rate, but only about $35 and $1250, respectively, on the black market.
The figures provide an insight into the growth of the black market economy in this once-prosperous southern African nation, which is reeling under inflation of more than 1,700 percent and suffering from shortages of most basic goods.
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