Hi as the title suggests. Can someone explain how would private money changer make money if the currency they are exchanging is experiencing a hyperinflation? Why would they do that business?
In: 5
Even 100% inflation a year is just a few percents a week, i.e. you can’t use such a currency for saving, but still can use for transactions, especially that simple.
On top they profit from tax evasion (in Argentina you pay 35% tax on buying dollars with pesos) or bypassing the prohibitions.
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