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Currency

TRADING
THROUGH A CURRENCY CONTROL.

Reference

In markets with currency controls, the price agreed and the amount received are different numbers, and the gap is decided by mechanisms outside the transaction. Nigeria is the example most traders know, and the pattern repeats across many markets.

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What to know
The rate is not one rate
Where access to foreign currency is rationed, an official rate and a market rate diverge. Which one applies to a given transaction depends on the channel it moves through, and quoting a price without saying which is quoting an unknown number.
Getting paid and getting funds out are separate problems
A buyer can pay in local currency without the seller being able to convert or repatriate it. Sellers discover this after delivery, which is the worst possible time, and it is a term rather than a technicality.
What to settle before shipping
Four questions decide whether a profitable order stays profitable, and every one of them is a term rather than an operational detail. Agreeing them in the order is worth more than negotiating a point of margin.
  • Which currency the invoice is denominated in
  • Which currency payment is made in
  • Who bears the movement between them
  • Whether repatriation is permitted, and how long it takes
Why this is not a workaround page
GRAJ does not convert currency, does not hold funds and does not route around exchange controls. Circumventing them is an offense in the jurisdictions that have them, and the value of writing this down is that the risk is priced into the deal rather than discovered afterwards.
Where to go next
HOW VALUE MOVES WITHOUT BANKS.
Hawala is a settlement system older than banking that moves value between countries without moving money.
Read it
SELLING INTO AND OUT OF AFRICA.
Fifty-four countries, eight regional trade blocs and no single answer to any question.
Read it
WHERE GRAJ IS OPEN
Every country, and what is open in each one today.
Open
GRAJ

READY TO
RUN YOUR GAME ON GRAJ.

Free to join. Participants keep 95% of every transaction; GRAJ takes 5%. Built for 195 countries — payments live in the United States.

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