wmawhite

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For those of you who maybe concerned about the “2%” spread…. interestingly the IMF isn’t as of this latest document. Here is their statement:
The spread between the official and the parallel foreign exchange market rate receded to around 2 percentage points since August from as high as 16 percentage points in June, as a result of the elimination of the obligation to prove custom duty and income tax payments before “buying foreign exchange.” 
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