exchange rate disparity

In economics, a dual exchange rate is the occurrence of two different values of a currency for different sets of monetary transactions. One of the most common types consists of a government setting one exchange rate for specific transactions involving foreign exchange and another exchange rate governing other transactions.
A dual exchange rate policy can arise for a variety of reasons. In the past, European and Latin American countries have used dual exchange rates to ease the transition from a fixed rate to a floating rate. Dual exchange rates are similar to multiple exchange rates in that they can appear when there is simultaneously both an official and black market rate.

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