Difference Between The Official Rate And Market Rate Of A Currency? - Business - Nairaland
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| Difference Between The Official Rate And Market Rate Of A Currency? by stiles009(m): 6:52am On Jan 06, 2016 |
The last time I entered a bank, I noticed their board had two different exchange rate for each currency, the market exchange rate and the official exchange rate. For instance, USA dollar was set at 199 naira to a dollar and 270 to a dollar for official and market exchange rate respectively. So my people, how does this work? and how much will I exchange my dollar for in an official establishment like banks and how much will I be charged on an international sites that only bills in dollar? . |
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