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Black Market Exchange Rates


euan2020

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Anecdotal since everyone normally has a joke about what currency to take abroad

 

Angola kwanza used to be around 98 to the $ but has weakened to around 168 on the official Bank Rate just now

Rate on the street was around 350 November, 450 in February  and now 600 Kwanza to $

means beers are cheap, and mega expensive Luanda aint so bad

Crazy that you can get 3.5 times an exchange rate

Banks don't have/or are not releasing currency - so anyone travelling abroad need to negotiate their own rate, and less overseas staff visiting so less overseas currency around as well    

Edited by euan2020
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Get this a lot in flea markets in Eastern Europe.

when Mrs goes to see her folks she goes to the Flea Market and looks for the guy with a bum bag and holding a massive bundle of local currency notes.... She is getting about 1/3 more in exchange than she does at the banks (oddly, they seem to love exchanging pounds.... Their faces seem to light up like you are offering them gold or diamonds at the sight of a pound note).

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