Definition of parallel market in English:

Share this entry

parallel market

noun

An unofficial market in goods or currencies, especially in a country with a controlled economy.
Example sentences
  • Just as price controls on sugar, say, drive the sale of sugar underground or to the informal sector, so price controls on forex have driven it to the streets - the parallel market and the black market.
  • You see goods and services are priced at the parallel market rate (black market) which is usually about double the official rate.
  • The spread between the legal exchange rate and that prevailing in the informal street market produces strong incentives for the diversion of a variety of current-account receipts from legal channels to the parallel market.

For editors and proofreaders

Line breaks: par¦al|lel mar¦ket

Share this entry
 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.