However, he explained that companies can bypass the law through commissioning foreign institutions, working in the EGX, to conduct transactions on behalf of Egyptians, allowing the latter to receive the proceeds of selling in US dollars, especially since GDR transactions rely on the black market exchange rate
While product prices were calculated using the official exchange rate, payments made by credit card were charged with the official exchange rate plus the retention rate of 35%, still well below the black market exchange rate
which reached a spread of over 50% after the sharp.
However, the black market exchange rate
, which tourists use to acquire pesos, witnessed over 50% devaluation boosting inbound tourism in 2014.
In particular, the black market exchange rate
has continued the appreciation that began with President Rouhani's election, falling from an average of 35,675 Iranian rials (Dh5.
Here in Sudan my total monthly salary was 600 pounds," about $86 at the black market exchange rate
Mayaleh said the black market exchange rate
, which last month hit a record low of about 70 to the dollar, reflected attempts to destabilise Syria, where President Bashar al-Assad is trying to crush an 11-month-old uprising against his rule, the agency reported.
These new measures are aimed to cover the gaps between the official exchange rate and the black market exchange rate
He stressed that the black market exchange rate
isn't the real exchange rate and that the people who work in this field are deliberately inflating prices to take advantage of people and cause a state of worry in order to boost their business and profits, affirming that the Central Bank is capable of protecting the Syrian Pound and providing foreign currency.
The bank attributed black market inflation to shortages of hard currency that pushed the black market exchange rate
to at least 90bnZimbabwe dollars for a single US dollar, compared to the official bank exchange of 20bn.
Financial integration is measured by the black market exchange rate
In the economic meltdown, the black market exchange rate
for the US dollar broke the one million Zimbabwe dollar mark for the first time in late October.
The literature reviewed by Bahmani-Oskooee and Goswami (2005) reveals that PPP is supported more often when the black market exchange rate
is used in the testing procedure.