Black market currency exchange place risks.
3 Answers
Exchanging currency on the black market with random touts on the street in Colombo is incredibly dangerous and highly illegal. While they might verbally offer you a slightly higher rate, they are masters of sleight of hand.
It is absolutely not worth the massive risk of losing hundreds of dollars to gain a few extra rupees. Always stick to the highly regulated, authorized currency exchange places displaying official Central Bank certificates in Fort or Pettah.
The most common scam involves them handing you a thick stack of lower denomination notes that is deliberately short of the agreed amount, or slipping highly convincing counterfeit bills into the middle of the stack.
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