Black Market Exchange Rate

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Black Market Exchange Rate

An exchange rate for a currency that differs from the official exchange rate set by a government. The black market exchange rate occurs when the official rate bears little or no relationship to the currency's actual value. Using the black market exchange rate can be a punishable offense in the country issuing the affected currency.
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It alleged that some people had published a Website to report false black market exchange rates for US dollars.
He says the government of Venezuela asked Twitter to suspend an account that had announced black market exchange rates for the US dollar.
According to the IIF report, inflation has been declining steadily in recent months to 14 percent in August 2014, year-on-year, from 30 percent in December 2013, as a result of tighter credit conditions and stabilization of the official and black market exchange rates.
Signing of the interim agreement has already been reflected in some recovery in the local stock market, a tightening of the spread between the official and black market exchange rates and a drop in inflation.
The former state minister at the Ministry of Finance, Abda Al-Mahdi, said that the current economic crisis led to a 50% decrease in the Gross Domestic Product (GDP), significant increase in the gap between the official and black market exchange rates, growing trade deficit and an increase in foreign debt to around $50 billion.
The gap between the official and black market exchange rates of the Egyptian pound against the dollar, which almost disappeared in the initial weeks after Mursi was deposed, has widened since last week but remains under 2%.
There is another part of the literature that includes studies that have used black market exchange rates in testing the PPP in less-developed countries (LDCs).
Since then, however, concerns about the impact of war on the economy - and a degree of speculation - have meant some currency trading outside the banking system and a widening gap between the official and black market exchange rates.
1983) of black market exchange rates, foreign exchange is viewed as a financial asset.
Last month the Sudanese finance minister said the results of the tripartite economic program has been modest given continued deterioration in several major economic indicators including budget deficit, high food prices, growing gap between official and black market exchange rates and the declining rates of economic growth.
The move was taken by the central bank in an effort to prevent companies and individuals from illegally exploiting the gap between the official and black market exchange rates.
In Section 3, using weekly ruble-dollar official and black market exchange rates in 1992, we estimate the percentage difference between the official and black market ruble-dollar exchange rates, the parallel market premium (PMP), for Moscow, St.