Black market

The black market means unlicensed money changers, trading in shops and markets or even on the street. You should think very carefully before using the black market and talk to your line manager.

It is sometimes difficult to find out if a money changer is operating legally. Some dealers may not have a licence but on the other hand the authorities may tolerate their activities. This is often referred to as a 'grey' market. The grey and black markets are also sometimes referred to as the 'parallel' market.