Cryptocurrency Q&A
Why do black market exchange rates differ from official rates?
Why do black market exchange rates differ from official rates?
Andrea
Thu Jan 30 2025
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7
answers
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I'm wondering why the exchange rates on the black market are not the same as the official rates. What factors contribute to this difference and why does it exist in the first place?
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7 answers
CryptoLord
Sat Feb 01 2025
This discrepancy is attributed to several factors, each playing a crucial role in shaping the market dynamics.
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Raffaele
Sat Feb 01 2025
As a result, the demand in the black market increases, pushing up the prices of foreign currency.
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OpalSolitude
Sat Feb 01 2025
One of the primary reasons is the imbalance between the supply and demand of foreign currency.
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Michele
Sat Feb 01 2025
When the demand for foreign currency spikes and surpasses the supply offered through official channels, it leads to notable changes in the market.
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Sara
Sat Feb 01 2025
The exchange rates in the black market frequently deviate from the official rates.
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