Mandy96
Valued Contributor
It is widely known that different currencies of countries around the world are not the same in terms of their rates, what really differentiate them is how well they are being used in the world market and that really depends on how well a country is active in international trades, this is how a certain currency will be determined if it will experience inflation or deflation. Well locally in nigeria, there are some people called “bureau de change” as their business name and the reason behind this is because they base on changing of currencies and make income from the rate of exchange, it you go to make business with them, such deal is termed to be called a black market trade, usually the rate their is not being as the same as the normal rate and that is why it is chosen to be called that. Some other deals are done under this profession, like helping one to receive money sent from abroad, they will give you the rate in which they will help you change it to the local currency which is naira, and from their they would have added their profit by deducting from the rate amount, it is a good one though and it has a lot to be learned about.
