In some countries, a parallel (or black) market exists where currencies trade at rates different from the official central bank rate. Tracking these rates manually is difficult because they are not published on standard financial APIs. Here is how you can monitor them with Currency Pig.

What Is the Parallel Market Rate?

The parallel market rate is the exchange rate at which currencies are actually traded outside official channels. It often applies in countries with capital controls or currency shortages (e.g., Argentina, Venezuela, Nigeria, Lebanon, Egypt). The rate is usually worse than the official rate (more expensive to buy dollars).

Why Track It?

  • Remittances – family sending money home needs to know the real rate they will get on the street.
  • Business – importers must account for parallel rates when official foreign currency is unavailable.
  • Travel – tourists may need to exchange at parallel rates if banks have no cash.

Setup Instructions

Receive Periodic Notifications

  1. In your Currency Pig dashboard go to favorite currencies.
  2. Click Add and select your target currency pair, for example for Egyptian Pounds select USD-EGPP.

This will let you receive periodic notifications to your preferred notification channel (Telegram, WhatsApp, Discord, email, etc), if you haven’t set up one, visit your Settings page, select the Notification tab, in Preferences tab you can choose when you receive the notifications, then in Settings tab, you can set up your preferred channel.

Receive Alerts

  1. In your Currency Pig dashboard go to alerts.
  2. Click Create and select your target currency pair, for example for Egyptian Pounds select USD-EGPP.
  3. Select an action (>=, > for above, <=, < for below, = for exact).
  4. Select your target rate.

You will receive a notification on your preferred notification channel when the market hit the condition.

Example: Tracking the Egyptian Pounds (USD-EGP)

  • Official rate: 30.81 EGP per 1 USD
  • Parallel/black/unofficial rate: 70 EGP per 1 USD
  • You set an alert: when parallel rate > 70 EGP
  • You receive a Telegram message when it hits

Sourcing Reliable Parallel Rates

Never trust a single source. Currency Pig uses multiple sources for the parallel rates.

Disclaimer

Please respect local laws. In some jurisdictions, tracking or publishing parallel market rates may be restricted. Currency Pig provides the tool; you are responsible for lawful use.

Parallel market tracking is a powerful feature for those who need it. Set up a custom feed today and never be surprised by the rate you actually receive.