Damus
Lyn Alden · 133w
Someone I know in Egypt has a co-worker that was recently arrested for being a “black market” dollar dealer. Authorities don’t mind if you own dollar accounts in Egyptian banks. But they don’...
newrenaissancecapital profile picture
Very interesting. I recently interviewed Mauricio Di Bartolomeo of Ledn, and he brought up another interesting point about "black markets" for dollars. He said that they technically provide the real market rate for dollars, which is maybe another reason the powers that be don't like them. He discusses this in the "Overview of Crisis in Venezuela" section... https://www.youtube.com/watch?v=bCWI1VjaEHE
1
Janis · 133w
That’s actually very well known. In countries that manipulate exchange rates only the (black) market has the actual rates. Case in point - the discrepancy between official and (black) market exchange rates of roubles in the Soviet Union.