Originally Posted by
jnamiyo
I am thinking that if I buy 100 euros at the posted daily exchange rate, today its at 1.13$ then it would not be illegal. If the government says that 1 euro costs $1.13 then why can't I buy it from a private person. The only thing that I am not doing is paying a middle man for the service.
As long as I am not charging above the posted daily exchange rate it is not black market. Am I wrong?
Yes. Where US dollars and euros are concerned, the "posted" rate is just the current average at which those currencies are trading on open markets. They are neither fixed nor regulated by any government.