Thị trường ngoại hối 299 người Pakistan làm việc tại Vương quốc Anh, những người cần gửi tiền cho gia đình của họ. Họ kiếm được đồng bảng Anh, nhưng gia đình của họ muốn rupee. Nếu có những người ở Việt Nam với rupee muốn đồng bảng Anh ở Vương quốc Anh, khả năng cho một hệ thống trao đổi không chính thức trở nên rõ ràng. | 13 - Markets for foreign exchange 299 Pakistanis employed in the United Kingdom who need to send money to their families. They earn sterling but their families want rupees. If there are people in Pakistan with rupees who want sterling in the United Kingdom the possibilities for an informal exchange system become apparent. Participants in the system gather sterling from the workers in the London and promise to deliver rupees to their families in Karachi. The rupees of those desiring to get money out of Pakistan are used to pay the families and the sterling gathered in London becomes available to them for whatever use they prefer. All that is required is a communications route making it possible for those in Karachi to know which families are to be paid how many rupees. That might be done in coded form by phone email or courier. If the communications mechanism can be kept confidential and the exchange process in London and Karachi informal there is no obvious way for the Pakistani or the British government to know what is going on. Hawala banking is not only a way to evade exchange controls but is widely believed to be used by criminal enterprises and by terrorists to move funds from the Middle East and South Asia to industrialized countries. September 11 greatly increased the attention given to hawala banking by the US and European governments and a few such operations have reportedly been closed. The attractions of a regulated exchange market for a developing country facing payments deficits are obvious but the record of such control systems is poor. Enforcement is difficult and frequently produces a decline in respect for law. Increasing volumes of export receipts particularly from remittances and tourism are diverted to an illegal market so the availability of foreign exchange for important purposes stagnates or declines. Economics is about how rational economic agents maximize their self-interest which means that it is about avarice and ingenuity. Few situations
