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English definition of “black market premium”

black market premium

noun [C]
 
 
MONEY
the difference between the value of currency on the black market (= illegal system) and its official exchange rate (= value) in relation to another currency: If a government allows high inflation, a high black market premium on the currency, and high budget deficits, how will foreign aid help?
(Definition of black market premium from the Cambridge Business English Dictionary © Cambridge University Press)
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