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What if there are multiple exchange rates with every person having different access to them?
by eternauta3k 3y ago
What if there are multiple exchange rates with every person having different access to them?
- NavinF 3y agoThen there are 2 currencies with an exchange rate and transaction fees to convert between them. The black market currency represents the true value whereas the local currency is based on price controls. Eg https://en.wikipedia.org/wiki/Venezuelan_bol%C3%ADvar#Currency_black_market https://en.wikipedia.org/wiki/Venezuelan_bol%C3%ADvar#Curren...