I'm a Master in India

"It seems your company is doing very well."

"Actually, there are some of my personal savings in there. I converted them all into US dollars a month ago."

Hader Khan laughed. "You knew the rupee would fall?"

"Of course not, but chasing gains and cutting losses is the nature of a businessman."

"I like that statement." Hader Khan lit a cigarette and seemed to fall into thought.

In one month, Ron converted all the money skimmed from the company, the service fees earned from tourists, and the tips from being a broker into US dollars; that's how much it was.

The total profit was about 500,000 rupees. After deducting the 100,000 rupees from the first week, the growth in the following three weeks was obvious.

This was thanks to the devaluation of the rupee, which attracted more tourists to spend money in Mumbai. Ron's worries about the off-season for tourism seemed to have not arrived.

The 500,000 rupees were gradually converted into US dollars during the withdrawal process, and the exchange rate was not as high as it is now at that time.

In addition to the original premium of the black market, Ron will also enjoy the dividends brought by the exchange rate difference. This time he made a lot of money.

"Ron, how much do you know about the black market?" Hader Khan stubbed out his cigarette.

"Not much, this is the place where I have the most contact with the black market."

"Then let me ask in another way." Hader Khan smiled and picked up the black tea again, "In the bank, 1 US dollar can be exchanged for 31 rupees. Why can we use, say, 35 rupees to buy 1 US dollar from tourists?"

"Because we can sell this 1 US dollar for a price higher than 35 rupees."

"Absolutely correct, so why can we do this?"

"I think it's because someone is willing to buy it at this price," Ron replied.

"That's right, but who are we selling to?"

"This..." Ron couldn't give a detailed answer. He hasn't participated in this part of the transaction yet.

"The reason why the black market exists," Hader Khan said faintly, as if telling a secret, "is because the legal market is too strictly controlled, and businessmen are greedy. When greed meets control, the black market emerges."

The rupee is a controlled currency and cannot be taken out of India. Anywhere in the world outside of India, the rupee cannot be legally exchanged for US dollars.

However, India has a large population, and thousands of businessmen and travelers go abroad every day. These people are only allowed to take a limited amount of US dollars out of the country, and the amount of rupees they can exchange is limited.

Moreover, the process is very complicated, requiring the person to show a passport, air ticket, and a series of other documents. One trip abroad can only be exchanged once, and travelers have no legal channels to exchange more US dollars.

"In India, almost everyone has some black money hidden under their beds. From hundreds of rupees not declared to the tax bureau by workers to billions of rupees accumulated from illegal gains by the rich.

The scale of the black market economy is about half the size of the legal economy. Those who hold a large amount of illegal black money cannot do accounting in the bank because they need to prove the source of the money.

Therefore, the only option is to buy US dollars from black market money dealers. In Mumbai, millions of US dollars, pounds, marks, francs, and other currencies are bought and sold on the black market every day."

Ron had never understood this information and the ins and outs of the black market so thoroughly. He was also very surprised at the scale of the black market, half of the legal economy? It's simply absurd.

If this deformed market didn't involve corruption and crime, that would be a miracle.

"So do you understand the black market transaction equation?"

Ron nodded, "Buy US dollars from tourists at a higher than official exchange rate, and then sell them to those who need it at a higher exchange rate, earning the difference."

"Very simple, isn't it? It's just that this process is subdivided into many parts: tourists, you, me, my clients."

"Me?" Ron vaguely caught something.

"Do you know how we usually get US dollars from tourists?" Hader Khan asked another question.

"Street brokers?" These were the most common colleagues Ron saw.

"Street brokers, tour guides, beggars, hotel managers, hotel waiters, restaurant owners, shop owners, airline executives, travel agencies, bar owners, prostitutes, taxi drivers..."

Hader Khan almost named all the professions wandering the streets of Mumbai, and the more Ron listened, the more nervous he became.

He finally understood where the problem was. He never thought he would face such a situation.

"Ron, have you noticed that your company almost strings half of these people together."

Yes, he was the first barrier to receiving tourists. If the tourists exchanged US dollars with him, then it seemed that the others had nothing to do?

"Hader Bhai, let's sign an agreement. From now on, all the US dollars from Mumbai Tourism Information Company will only be sold here, and will never go to other buyers."

Ron surrendered at the speed of light. How the hell was he supposed to play this game? The other party was a powerful figure in Mumbai. What was he worth?

This wave was really digging his own grave, and he was in bad luck.

Hader Bhai was stunned when he heard his words, and then he couldn't help laughing.

His laughter was hearty, with no sign of anger.

"Ron, you are very smart and very shrewd. But I think you misunderstood."

"Huh?"

"No, no, no, not only will I not be angry, I will even be happy because your company takes the US dollars from the tourists in advance?"

"Uh..."

"Ah?" Ron really didn't understand now.

"These people are not my subordinates. To take the US dollars from them, I still need to send people down to collect the money, and there is a bargaining process in between.

"But your company has eliminated all of this. Look, the US dollars under your feet are more than what hundreds of them can save in half a year, simple and efficient."

Ron blinked, "So, my company hasn't brought you any losses?"

"I don't think so." Hader Khan smiled and lit another cigarette.

"In that case..." Ron breathed a sigh of relief, "What I just said still stands."

Hader Khan's amber eyes glanced at him and nodded, "Okay."

Ron got up, he knew it was time to end the conversation.

"Ron, your company is still too small. When it's big enough, I'll introduce you to a business. There are more ways to make money in the tourism industry than you think."

Ron nodded and got up to leave.

Downstairs, Anand had been waiting in the taxi for half an hour.

Because of the heat and worry, the sweat on his forehead dripped down.

Could it be a black eat black situation? After all, it was hundreds of thousands of rupees.

Just as Anand was struggling whether to rush up to save him, or slip away to find the police for help, Ron came down carrying the bag.

"Is it done?"

"1.2 million rupees."

Ron stuffed the heavy luggage bag under his feet, Anand stared at it, his legs straightened and his breathing became rapid.

"Not all of the money inside is mine, there's also your share, drive quickly!"

Ron scolded with a smile, Anand immediately cheered and slammed on the accelerator.

"Ron, where to?"

"Go home to do the accounting first, and then take me to other places in Mumbai to take a look."

"Hey, do you want to have fun? I know where there are exciting programs!"

"No, I just want to see what other businesses besides tourism can make money in Mumbai?"

A trace of worry flashed in Ron's eyes, and the conversation just now lingered in his mind.