The gap between the official exchange rate and the rate in the swap market has widened to nearly 20%.
Furthermore, Burma's grossly overvalued official exchange rate distorts economic activity and heightens the risks and challenges for foreign investors.
Precious dollars were drained out as Indians bought dollars for gold purchases at 50% above the official exchange rate.
Petrol costs less than 5 cents a litre in Venezuela at the official exchange rate, but raising the price is politically sensitive.
Venezuela has a fixed official exchange rate of 2.15 to the dollar.
It also managed to narrow the gap between the official exchange rate and the price of the dollar in the free market.
He has also said that wages need to rise, though that will have to be accompanied by changes in prices and the official exchange rate.
Venezuela Keeps Official Exchange Rate Despite Flourishing Currency Black Market Trade.
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Now, dollars sell on the black market at three times the official exchange rate and Maduro has had to devalue Venezuela's currency, the bolivar, twice this year.
With hyperinflation, a gap of around 10:1 has opened up between the official exchange rate operated by the bank and the true rate reflected in the black market.
One cause of Myanmar's financial mess is the cost of the army (see chart, which, by using the ludicrous official exchange rate, significantly understates the cost of imported weapons).
The government has abolished jail terms for those caught dealing in foreign currency, offered extra incentives for private investment and brought the official exchange rate closer to the black-market one.
The magic price would be higher still today, given inflation (the official exchange rate is pegged to the dollar) and the further expansion of the state through the nationalisation of private businesses.
Before the reforms, the state bought rice from state farms and co-operatives at 82 chon per kilo (100 chon make one won, worth less than a cent at the official exchange rate).
Venezuela's government has stopped issuing import permits, nor is it providing dollars at the official exchange rate for imports from Colombia (a dollar costs almost three times more on the parallel market).
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Since the rules were introduced in November 2011, Paypal has been used as an alternative means of obtaining the US currency close to the official exchange rate, which currently stands at about 4.7 pesos per dollar.
The country's current foreign-exchange system, which involves a fixed "official" exchange rate that makes the currency, the kyat, more than 100 times as valuable against the dollar as the black-market rate, is so confusing that many foreign companies have refused to re-enter the country even if Western leaders ease sanctions against Myanmar, the country also known as Burma, as expected later this year.
On Thursday, Iran's central bank devalued the rial by 8% against the dollar and ordered all currency-exchange shops to adhere to the official rate or be shut down, according to Iran's official media.
This action targets those people that have been using credit cards as a way to purchase at the official rate rather than the black market rate, in effect creating a dual credit card exchange regime.
In Zimbabwe, the black-market exchange rate is nearly ten times the official one.
"Meanwhile, top government officials and other privileged people can exchange Zim money at a favorable rate that is several thousand times more than the official rate available to other citizens, " Carter said.
CNN: Carter: Cholera-, inflation-ridden Zimbabwe 'a basket case'
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