Are black markets for foreign currencies more likely to exist in countries with an overvalued currency or with an undervalued currency? Why?

Name: Are black markets for foreign currencies more likely to exist in countries with an overvalued currency or with an undervalued currency? Why?
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The Answer of Are black markets for foreign currencies more likely to exist in countries with an overvalued currency or with an undervalued currency? Why?

Are Black Markets for Foreign Currencies More Likely to Exist