How can I make money from a gap between official and black market exchange rates in a developing country?
Greetings to all, I am a cab driver in NYC. I also have a degree in Finance and Economics. Anyways my question is there is a massive shortage of foreign currency (USD in particular) back in my country. The government fixes the exchange rates to an overvalued level and as a result, there is now a black market that trades at 30% higher than the official rate. It is close to impossible for importers or anyone else to acquire sufficient USD from banks. There are large scale businesses who would pay anything to get a consistent supply of USD so they can continue their business or even expand. And me being an American (Dual) citizen living in the US, I am looking for ways to take advantage of this gap and make money. Therefore, I am reaching out to the meritocrats to peach in ideas. Thanks
get the locals to sell you assets (gold, silver, diamonds, bitcoin, etc...) and pay for it in dollars at the reduced price. They get dollars...you get the physical goods...and then you can sell the goods in the US at standard market prices.
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