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But instead it was set at 12 billion or $365,000 based on the current free market exchange rate.
Mayaleh said the black market exchange rate, which last month hit a record low of about 70 to the dollar, reflected attempts to destabilise Syria, where President Bashar al-Assad is trying to crush an 11-month-old uprising against his rule, the agency reported.
These new measures are aimed to cover the gaps between the official exchange rate and the black market exchange rate.
PWC said the global share of GDP for emerging economies would be significantly lower using market exchange rates rather than PPPs, although their share would still be rising rapidly.
The bank attributed black market inflation to shortages of hard currency that pushed the black market exchange rate to at least 90bnZimbabwe dollars for a single US dollar, compared to the official bank exchange of 20bn.
The bank attributed black market inflation to shortages of hard currency that pushed the black market exchange rate to at least 90 billion Zimbabwe dollars for a single US dollar, compared to the official bank exchange of 20 billion.
The literature reviewed by Bahmani-Oskooee and Goswami (2005) reveals that PPP is supported more often when the black market exchange rate is used in the testing procedure.
Net additions to income amounted to $919 million, primarily representing unrealized gains on assets denominated in foreign currencies that are revalued to reflect current market exchange rates.