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franco
@francos.eth
Haven't seen the following discussed here: "The government of Bolivia today rugged everyone holding dollars in their bank accounts and is telling people they will get the commensurate amount in the local currency, bolivianos - which is redeemable back to USD for 50% less."
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franco
@francos.eth
What we do know is true and verified is the following: - The country is going through an economic crisis that makes it impossible to import fuel to cover internal demand. - On Monday, the gov passed the Supreme Decree 5348, which allows YPFB to obtain USD from Banco Unión's customers (both private customers and public actors) and then use them to import fuel.
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franco
@francos.eth
- Those dollars belong to private savers, since the Central Bank of Bolivia has already used the dollars that private banks had deposited for the mandatory legal reserve requirement. - The official exchanges rate is 6.85 BOB per dollar, whilst on P2P markets the BOB is trading at 12.5 BOB per dollar.
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Vinay Vasanji
@vinayvasanji.eth
Self custody stablecoin adoption can't come soon enough in some regions
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