Meaning of “parallel market” in the English Dictionary

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"parallel market" in Business English

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parallel marketnoun [ C ]

uk us also parallel money market FINANCE, STOCK MARKET

an unofficial market for shares, currencies, etc., which works at the same time as the official market:

The offshore currency market can be viewed as a parallel money market.
on the parallel market Increased controls would likely spur more activity on the parallel market.

(Definition of “parallel market” from the Cambridge Business English Dictionary © Cambridge University Press)