the black market

black market

The business of buying or selling illegal or banned goods, currencies, or substances. Hyphenated if used as a modifier before a noun. Though they have been proven beyond a shadow of a doubt to hold no medicinal properties, rhino horns are highly sought after on the black market. Illegally procured and distributed prescription medicines make up a surprisingly large percentage of black-market drug trade.
See also: black, market

the black ˈmarket

an illegal form of trade in which foreign money, or goods that are difficult to obtain, are bought and sold: Tickets for the game are being sold on the black market for $200 each. OPPOSITE: the open market
See also: black, market
References in periodicals archive ?
New vaping products circulating around the black market have been linked to recent cases of lung damage in the U.S.
[15/April/2019] SANAA, April 15 (Saba) - The Yemen Petroleum company (YPC) on Sunday announced that it will implement from Monday in cooperation with the security services a campaign to combat the manifestations and control of the black market phenomena for oil derivatives.
We should learn from Argentina and BrazilIf you want to boil an ocean down, do not ask for ways because there aren't any.With the entry of the Federal Investigation Agency entry into the black market for dollars, we are likely to witness a market failure evolving into a government failure.
CARACAS (AFP) - Venezuela devalued its currency by almost 35 percent on Monday to bring it into line with the exchange rate of the dollar on the black market.
TWENTY-FOUR people have been found guilty of selling work visas in the black market and making around BD2 million.
In a statement, the National Bank of Tajikistan said that it wants to keep the difference between the official exchange rate and the rate on the black market within 2 percent.
As of Thursday, May 24, it was selling for 63,800 to the dollar on the black market, a loss of 52 percent in value over less than five months.
Both cigarettes and roll-ups are sold on the black market, a term coined for the illegal trade of goods where people avoid government price controls or taxes.
dollar exchange rate on Monday has hit a new all-time high in the black market as the Sudanese pound (SDG) declined to 29.5 per dollar.
The total remittances of Egyptians in FY 2014/2015 reached $19bn, yet, a big part of that figure was sold on the black market prior to the floating of the pound, but returned to official channels after it.
A draft set of rules released Wednesday suggests that in its juggling act, the authority is in danger of dropping one important ball: the goal of moving the marijuana economy into the open, where it can be taxed and regulated, and away from the black market, where it helps finance criminal enterprises.
Since January, the central bank has allowed the pound to weaken against the dollar in 10 consecutive depreciations, a move that was expected to control the black market.
"The instant response in the black market has been surprising," Hany Farahat, a senior economist at Cairo-based CI Capital, said by phone on Thursday.
It was the fifth official depreciation this week, prompted by the widening gap between the black market and the official rate.
The black market appeared almost as soon as rationing began.