Meaning of “black market premium” in the English Dictionary

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"black market premium" in Business English

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black market premiumnoun [ C ]

uk us 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)