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Communism tends to create these patterns. It was the same in pre-1989 Poland. Owning USD was illegal, you were supposed to turn them to authorities and get "Pol
by ajuc 6y ago
Communism tends to create these patterns. It was the same in pre-1989 Poland. Owning USD was illegal, you were supposed to turn them to authorities and get "Polish issued USD" instead. It was a separate kind of currency different from the regular (worthless) Polish currency. But the official exchange rate was order of magnitude worse than the real USD-Polish złoty exchange rate, so nobody did that if they could avoid it.
There were special shops "Pewex" that had all the foreign goods and the best Polish export products - you could only buy that stuff there for Polish USD. It was a way for the state to extract hard currencies from the population.
There was a whole class of people that exchanged USD to Polish currency on the black market (with the real exchange rate). They were called cink-ciarz because they stood in touristy places and whispered "ex-change" in broken English to tourists. It sounded like cink-ciarz to Poles. Lots of fortunes were made that way, and people were in prison because of that.