I live in Venezuela and we've had forex controls for 2 decades now. Our currency has also depreciated massively over the years to the point of being useless.

I live in Venezuela and we've had forex controls for 2 decades now. Our currency has also depreciated massively over the years to the point of being useless. We've unofficially dollarized a lot of cash operations so I bet a bunch of it is here. Cuba and Argentina have similar forex controls. This is probably the case all over the world.