The Black Market for US Dollars…

24 Feb

This is the second call I had today.

Just now it was from an expatriate project manager that I know who is from a neighbouring country. He said that he has a 100,000 US Dollars that he can sell and was looking for a willing buyer. He also told me that as I know, the market rate is now 13.75 Rufiyaa and that he could give me a better deal if I knew someone who was ready to buy. You know what that means!

This morning the call was from a CFO in a reputable company in Male’ who had 200,000 US Dollars that he wanted to sell. He said that the rate was 14.00 Rufiyaa. He had given me a call because I had requested him for some assistance in meeting our dollar purchase requirement. I told him we did not buy from the black market, yet.

Both the calls came from people working for and in reputed business organizations. I don’t know whether they were trying to make a quick buck for themselves personally or for the company. Some of my friends tell me that I don’t have proper business acumen because I think this way. They tell me that a thriving black market is here and we have to embrace it or perish. These are the same people who believe that the government is corrupt and are up in arms to combat the wrongdoing.

In the meantime, agencies of the state seem to be unable to design and implement policies to regulate the financial market to deal with the challenges of the day.


Posted by on February 24, 2009 in My Concerns, Values


2 responses to “The Black Market for US Dollars…

  1. Anonymous

    February 27, 2009 at 2:51 am

    they all are licensed black marketiers, money trading is a new business to us, come june Rf 16 per $, sounds good huh!!!

  2. Anonymous

    February 24, 2009 at 11:28 pm

    well well , Bandos resort also selling , Various Resort Managers selling , Yellow Fin exporters also selling and finally Bank executives selling !!!!! Bank should order all business firms and people to deposit foreign currency there , if not banking services can be brought to nil!!! like LC and stuff.Regards / Manager BCCI

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