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In particular, foreign exchange was in short supply.
India, he noted, began opening up its economy in 1991, only when the government's foreign exchange was nearly depleted.
Indeed, the chronic shortage of foreign exchange was exacerbated by the end of barter trade and subsidized weaponry.
The largest earner of foreign exchange was the diamond sector, but improved production of bauxite and rutile reduced dependence on diamonds.
Within three days of airports' closure, Kenya's horticulture industry – which accounts for a huge chunk of the country's foreign exchange – was spiralling down.
The re-emergence of a busy black market, ten years after foreign exchange was liberalised, is an indication of how bad things are.All sectors of the economy are suffering.
Similar(49)
Reserves of foreign exchange are believed to be below $100m.
That happens only when foreign exchange is rationed.
As a result, foreign exchange is now scarce.
Foreign exchange is an excellent example of a global market.
Black-market activity in foreign exchange is prevalent in countries in which convertible foreign exchange is scarce and strict control of foreign exchange exists.
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