Foreign Exchange Queues, Informal Traders, and a Zero Premium in the Black Market : A Cape Verdean Puzzle

A Cape Verdean Puzzle

Foreign Exchange Queues, Informal Traders, and a Zero Premium in the Black Market : A Cape Verdean Puzzle
During 1996-98, several indicators hinted at the apparent unsustainability of Cape Verde's exchange rate peg. The country, faced with a considerable backlog of approved but unmet applications for foreign currencies, tolerated a parallel market. Street traders, however, demanded only negligible premiums (if any at all) for foreign exchange. By... READ MORE...

Publication date: August 1999
ISBN 9781451853322
$15.00

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