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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: MSI who wrote (2438)	10/3/2001 7:59:04 PM
From: k.ramesh	Read Replies (1) \| Respond to of 281500

Most times the cash never leaves the country. It starts with people in Pakistan/India with black money in rupees, more than they can consume/invest. Black money then becomes less valuable, so the person is willing to take 97c for it instead of $1. On the other end are Pakistani/Indian workers in the gulf looking for maximum rupees for their hard earned hard currency. So they want maximum premium over official rate. If the hawala boys are very powerful, in relation to the whole economy as I suspect in Pakistan, they can force the the Central bank to keep the offical rate at a point where they can keep making money. LOOK in Pakistan you can get in a Toyota Landcruiser without offical import papers, so slipping in a handful of $$ must be really child's play. Smugglers feel pinch.... atimes.com 1-800-TALIBAN... Taliban offices/ areas served with Pakistan Country code instead of Afghanistan! msnbc.com