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The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar. This rate is almost two times different from the illegal black market exchange rate. The Black-Market exchange rate of the naira to the U.S. dollar is approximately ₦752.50 per 1 US dollar. [68] According to a recent ...
The black market exchange rates (USD to MMK) decrease during the peak of the tourist season in Burma (December to January). During the 2003 Myanmar banking crisis, the kyat's black market rate appreciated when distrust in kyat-deposited banks increased demand for kyat banknotes. [4] At its peak, the kyat traded for as high as Ks. 850/- per USD. [5]
The spot exchange rate is the current exchange rate, while the forward exchange rate is an exchange rate that is quoted and traded today but for delivery and payment on a specific future date. In the retail currency exchange market, different buying and selling rates will be quoted by money dealers. Most trades are to or from the local currency.
In November 2013, it was almost one-tenth that of the official fixed exchange rate of Bs.F 6.30 per US dollar. [64] In September 2014, the currency black market rate for the hard bolívar reached 100 VEF/USD; [65] on 25 February 2015, it went over 200 VEF/USD.
PPP exchange rates are especially useful when official exchange rates are artificially manipulated by governments. Countries with strong government control of the economy sometimes enforce official exchange rates that make their own currency artificially strong. By contrast, the currency's black market exchange rate is artificially weak.
Drugs and weapons abound on the black market -- but one commonplace household item is also traded like a commodity. ... The Today Show. 89 family quotes to share with the people you love most.
Sudan's central bank allocated $43.4 million in its second foreign currency auction, an almost three-fold increase on the previous week, while the difference between the country's official and ...
A black market in Shinbashi in 1946 Illegal street traders in Barcelona in 2015. A black market, underground economy, shadow market or shadow economy is a clandestine market or series of transactions that has some aspect of illegality or is not compliant with an institutional set of rules. If the rule defines the set of goods and services whose ...