The black market is the rate at which foreign exchange is bought and sold on the foreign exchange black market.
In countries where it is strictly practiced, the official exchange rate is applied uniformly.
Some holders of foreign exchange sell foreign exchange in the black market at a rate higher than the official exchange rate in exchange for more domestic currency, which is the black market foreign exchange provider;
Others who cannot obtain or do not obtain sufficient foreign exchange demand at the official exchange rate purchase foreign exchange from the black market at a price higher than the official exchange rate. These are the black market foreign exchange demand.
Black market exchange rate has become a non-negligible factor affecting the economic process, mainly in the economic transition countries.
