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.”
BGG Blog
